Trade surplus 'to decrease more'

0 CommentsPrint E-mail China Daily, March 8, 2011
Adjust font size:

The trade surplus will decrease further this year and may even go into deficit for a few months, Minister of Commerce Chen Deming said on Monday.

China's Commerce Minister Chen Deming speaks at a news conference on the sidelines of the annual session of the National People's Congress, in Beijing on Monday March 7, 2011. [Photo/Xinhua] 

 

This will be due to increased imports of high-tech products, green technology, resource-related goods (such as iron ore) as well as simplified procedures and tariff cuts on certain items, he said. But grain imports will not rise sharply, to prevent volatility on global markets, he added.

The surplus has been in decline in recent years. In 2010 it decreased by 6.4 percent, from a year earlier, to $183.1 billion. This followed a 34 percent fall to $196.1 billion in 2009, from a year earlier.

In January, the surplus dropped by 53.5 percent year-on-year to $6.46 billion.

"The surplus will further drop in 2011. While export growth will decelerate, import growth will accelerate," Chen said at a news conference on the sidelines of the annual session of the National People's Congress.

"The main target this year is to cut the trade surplus through stabilizing exports and expanding imports."

Import growth outmatched the increase in exports in recent months as global demand remained fragile and commodity prices surged.

In 2010, exports grew by 31.3 percent, compared with 38.7 percent for imports.

In January, exports rose 37.7 percent, compared with 51 percent growth for imports.

During the November meeting of G20 finance ministers and central bank chiefs in Seoul, the United States proposed a ratio of trade surplus or deficit to a nation's GDP be set at 4 percent, in a bid to solve global trade imbalances. But a number of countries rejected the proposal.

Last year, the surplus-deficit ratio of GDP in the current account was 3.2 percent for China, but "it's hard to say whether the figure will drop to below 3 percent or not, but it will definitely get smaller", Chen said.

Zhou Shijian, a senior trade expert, described China's commitment to boost imports to balance trade as "wise" as it reduces friction with other nations.

The US has asked China to appreciate its currency to reduce the trade deficit, but Chen reiterated that reform of the exchange rate will be "gradual" and "controllable", and it's unreasonable to accuse China of keeping the yuan undervalued, he said.

According to some foreign media reports, the Ministry of Commerce is considering a tariff reduction on high-tech products and resource-related goods and is seeking opinions from other ministries.

"Simpler import-related procedures are a priority, and we are also considering reducing import tariffs on some goods," Chen confirmed.

Jia Kang, head of the institute of fiscal science, a think tank affiliated to the Ministry of Finance, said "we should firstly consider resource-related and high-tech goods when it comes to import tariff reduction. Relevant policies will probably come out soon. But it's not time to consider luxury and high-end goods."

Chen said at the news conference that China will "probably allow some of the made-in-China luxury goods to be directly sold in China", which is currently prohibited.

In three years, China will exempt import tariffs on more than 95 percent of categories of goods from the least-developed nations, he said.

Chen also urged the developed nations, including the US and European Union countries, to loosen restrictions on high-tech exports to China.

Print E-mail Bookmark and Share

Go to Forum >>0 Comments

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 免费无码又爽又刺激高潮的视频 | 欧美xxxx极品| 亚洲美女人黄网成人女| 精品国产福利一区二区| 国产一二三区视频| 香蕉视频黄色在线观看| 国产特级毛片aaaaaa高潮流水| 亚洲欧美一区二区三区日产 | 国产羞羞羞视频在线观看| caopon国产在线视频| 富二代官网下载在线| 中文字幕丰满伦子无码| 日本免费一区二区三区最新| 五月综合激情网| 樱花草在线社区www韩国| 亚洲国产欧美国产综合一区| 欧美黑人疯狂性受xxxxx喷水| 亚洲风情亚aⅴ在线发布| 白嫩光屁股bbbbbbbbb| 六度国产福利午夜视频黄瓜视频| 美女美女高清毛片视频| 国产AV无码专区亚洲AV| 被男按摩师添的好爽在线直播| 国产小呦泬泬99精品| 91香蕉污视频| 国产成人h在线视频| 国产视频你懂得| 国产成人综合洲欧美在线| 人人爽天天爽夜夜爽曰| 国产精品99久久不卡| 亚洲综合色7777情网站777| 孩交精品xxxx视频视频| 中文字幕2020| 成人禁在线观看| 中文字幕一区二区日产乱码| 拍拍拍无挡视频免费观看1000| 亚洲一区欧洲一区| 欧美亚洲国产日韩电影在线| 亚洲国产成人va在线观看网址| 欧美性猛交XXXX乱大交3| 亚洲性色高清完整版在线观看|