Loosen curbs to cut deficits
Source: Xinhua |
March 21, 2011, Monday
|
Print Edition
Print Edition
MINISTER of Commerce Chen Deming said yesterday that China hopes countries with large trade deficits with it could loosen export controls.
Addressing the 12th China Development Forum held in Beijing, which ends today, Chen said that China is willing to improve the trade structure through negotiations with countries which have large deficits with it.
Chen said many Chinese enterprises need advanced technology and equipment, resources and raw materials as they are transforming their growth pattern. However, some countries curb such exports to China.
Chen said China's foreign trade is steering toward a more balanced direction. Its trade surplus has dropped for two consecutive years. Last year's surplus accounted for only 3.1 percent of China's gross domestic product.
In the first two months of this year, China posted a trade deficit of US$890 million, according to the General Administration of Customs.
Chen sees the proportion of surplus in its GDP would further narrow this year.
"China's imports have been a significant driving force for global economic growth and have contributed substantially to relieving the imbalances of global trade," he said.
Addressing the 12th China Development Forum held in Beijing, which ends today, Chen said that China is willing to improve the trade structure through negotiations with countries which have large deficits with it.
Chen said many Chinese enterprises need advanced technology and equipment, resources and raw materials as they are transforming their growth pattern. However, some countries curb such exports to China.
Chen said China's foreign trade is steering toward a more balanced direction. Its trade surplus has dropped for two consecutive years. Last year's surplus accounted for only 3.1 percent of China's gross domestic product.
In the first two months of this year, China posted a trade deficit of US$890 million, according to the General Administration of Customs.
Chen sees the proportion of surplus in its GDP would further narrow this year.
"China's imports have been a significant driving force for global economic growth and have contributed substantially to relieving the imbalances of global trade," he said.
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