China's import volume is expected to jump between 12 percent and 15 percent this year, outgrowing exports, according to the Ministry of Commerce.
The total foreign trade of China this year could reach between US$680 billion to 700 billion, up from 10 percent to 13 percent over last year, says a report by a ministry research institute.
Of the total, import is expected to grow 12 percent to 15 percent to US$330 billion to 340 billion while export would rise between 8 percent and 13 percent to US$350 billion to 360 billion.
The report says that cars, steel and digital cameras were among the imported commodities that registered higher growth since early this year. In the Shanghai port alone, the import of digital cameras in the first five months this year was 53 times that for the same period of last year.
Li Yushi, deputy chief of the research institute, said that the upward trend of imports was normal and conducive to the country's economic growth.
He attributed the growth mainly to China's entry into the World Trade Organization which resulted in the lowering of tariffs and non-tariff barriers, as well as the country's fast economic growth and industrial restructuring.
China's imports and exports increased by 21.2 percent and 22.3 percent, respectively, last year.
(Xinhua News Agency July 9, 2003)
