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Minister says foreign trade growth reaches 20% in 2011
January 5, 2012, Thursday
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CHINA'S foreign trade last year is estimated to have grown by 20 percent to US$3.6 trillion, while its trade surplus will continue to narrow to around US$160 billion, Commerce Minister Chen Deming said in Beijing today.
The total trade surplus is likely to account for about 2 percent of the country's gross domestic product last year, compared to US$183.1 billion in 2010, which accounted for 3.1 percent of GDP that year, Chen said.
China maintained a stable and balanced development in foreign trade in 2011, with more favorable policies and credit to support exports and boost the expansion of imports, said Chen at a national conference on commerce.
The country has also accelerated adjustments in the foreign trade structure and the transfer of processing trade to the central and western regions in the past year, he said.
Chen also noted that China's domestic consumption witnessed rapid growth in 2011, which is likely to have surged 17 percent to 18 trillion yuan (US$2.83 trillion).
The total trade surplus is likely to account for about 2 percent of the country's gross domestic product last year, compared to US$183.1 billion in 2010, which accounted for 3.1 percent of GDP that year, Chen said.
China maintained a stable and balanced development in foreign trade in 2011, with more favorable policies and credit to support exports and boost the expansion of imports, said Chen at a national conference on commerce.
The country has also accelerated adjustments in the foreign trade structure and the transfer of processing trade to the central and western regions in the past year, he said.
Chen also noted that China's domestic consumption witnessed rapid growth in 2011, which is likely to have surged 17 percent to 18 trillion yuan (US$2.83 trillion).
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