Rise in imports to outpace exports
By Xiao Feng |
August 24, 2011, Wednesday
|
Print Edition
Print Edition
CHINA expects growth in imports to outpace that of exports in the next few months on a stronger domestic demand and rising commodity prices, according to the Ministry of Commerce yesterday.
"The foreign trade balance will improve due to larger domestic demand, more supportive policies and higher international commodity prices," Vice Minister of Commerce Jiang Yaoping said during a press conference. "Companies are facing pressure of rising prices and intense competition globally."
He said that the ministry will further study boosting imports by adjusting duties for imported goods after China temporarily lowered duties for 673 types of products, including refined oil products in the first half this year.
Data with China's customs showed that the country imported 72 percent more edible oil in July than last year, and 9 percent more refined copper.
Imports jumped 26.9 percent to US$973.1 billion in the first seven months of this year while exports rose 23.4 percent to US$1.04 trillion, official data showed.
Meanwhile, a report released yesterday by HSBC said new export orders in China may continue to decline this month amid turmoil in global financial markets.
Analysts said that relatively easy monetary policies in the United States and Europe to tackle their debt problems will continue to support commodity prices.
"The foreign trade balance will improve due to larger domestic demand, more supportive policies and higher international commodity prices," Vice Minister of Commerce Jiang Yaoping said during a press conference. "Companies are facing pressure of rising prices and intense competition globally."
He said that the ministry will further study boosting imports by adjusting duties for imported goods after China temporarily lowered duties for 673 types of products, including refined oil products in the first half this year.
Data with China's customs showed that the country imported 72 percent more edible oil in July than last year, and 9 percent more refined copper.
Imports jumped 26.9 percent to US$973.1 billion in the first seven months of this year while exports rose 23.4 percent to US$1.04 trillion, official data showed.
Meanwhile, a report released yesterday by HSBC said new export orders in China may continue to decline this month amid turmoil in global financial markets.
Analysts said that relatively easy monetary policies in the United States and Europe to tackle their debt problems will continue to support commodity prices.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
