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China's foreign trade forecast to surge more than 30%
By Joyce Pan |
December 22, 2010, Wednesday
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Online Edition
Online Edition
CHINA'S foreign trade is expected to surge more than 30 percent year on year to US$2.9 trillion this year as the country attempts to balance its trading account to counter the fallout from the global financial crisis.
China will become the world's top exporter and the second biggest importer by the end of this year, Minister of Commerce Chen Deming said today at a working conference in Beijing.
The market share of China's exports rose to 10 percent of the global total this year, compared with 7.3 percent at the end of 2005, Chen said. The country has increased exports of high-tech products as well as mechanical and electrical products, Chen added.
Foreign trade totaled US$2.68 trillion in the first 11 months of the year, up 36.3 percent year on year, according to the General Administration of Customs.
Chen also said retail sales of consumer goods are estimated to reach 15.7 trillion yuan (US$2.3 trillion), up 18 percent from a year ago.
China will become the world's top exporter and the second biggest importer by the end of this year, Minister of Commerce Chen Deming said today at a working conference in Beijing.
The market share of China's exports rose to 10 percent of the global total this year, compared with 7.3 percent at the end of 2005, Chen said. The country has increased exports of high-tech products as well as mechanical and electrical products, Chen added.
Foreign trade totaled US$2.68 trillion in the first 11 months of the year, up 36.3 percent year on year, according to the General Administration of Customs.
Chen also said retail sales of consumer goods are estimated to reach 15.7 trillion yuan (US$2.3 trillion), up 18 percent from a year ago.
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