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Ministry predicts trade growth despite cloudy outlook
By Wang Yanlin |
April 22, 2011, Friday
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Online Edition
Online Edition
CHINA'S foreign trade may grow steadily this year despite many uncertainties, the Ministry of Commerce said in a report today.
More expensive raw materials and rising labor costs will eat into traders' profit, especially small and medium-sized enterprises. The global business environment may also deteriorate due to unrest in a few countries, the report said. But China's solid economic growth will back a stable expansion of trade.
China's trade growth in 2011 may moderate from last year and imports may advance faster than exports to balance the trade.
China saw a trade deficit of US$1.02 billion between January and March, the first quarterly deficit in six years, compared with a trade surplus of US$13.91 billion in the first quarter of last year.
China's exports increased 26.5 percent on an annual basis to US$399.64 billion in the first quarter, while imports soared 32.6 percent to US$400.66 billion.
More expensive raw materials and rising labor costs will eat into traders' profit, especially small and medium-sized enterprises. The global business environment may also deteriorate due to unrest in a few countries, the report said. But China's solid economic growth will back a stable expansion of trade.
China's trade growth in 2011 may moderate from last year and imports may advance faster than exports to balance the trade.
China saw a trade deficit of US$1.02 billion between January and March, the first quarterly deficit in six years, compared with a trade surplus of US$13.91 billion in the first quarter of last year.
China's exports increased 26.5 percent on an annual basis to US$399.64 billion in the first quarter, while imports soared 32.6 percent to US$400.66 billion.
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