Trade glut with EU seen lower
Source: Xinhua |
September 1, 2009, Tuesday
|
Print Edition
Print Edition
CHINA'S trade surplus with the European Union for this year will be less than last year, a senior official of the Ministry of Commerce said yesterday.
The trade surplus with the EU has already eased so far this year, said Sun Yongfu, who is in charge of European affairs at the ministry.
Customs figures show China's surplus with the EU totaled US$55.7 billion in the first seven months of this year, less than half of last year's total of US$160 billion.
He said the decline in China's exports to the EU has accelerated while the fall in the country's imports from the EU has eased.
China's exports to the EU were worth US$103.5 billion in the first half, down 24.5 percent from a year earlier.
China's imports from the EU stood at US$56.5 billion in the first six months, down 13.1 percent from a year ago and easing from 15.1 percent in the first quarter.
"There has already been a sharp fall in China's trade surplus with the EU so far, and the figure for the whole year will not be as large as that of last year," he said. "Trade between the two sides will become more balanced."
Sun said he hoped the EU would check potential protectionism arising there, as with increasing trade there had been friction between the two partners.
There had been non-standard practices and violations of World Trade Organization rules in some filings, investigations and rulings, he said.
"Some of China's major trading partners have showed signs of protectionism during the global financial crisis, and there has been rising trade protectionism inside the EU," he said.
Sun said he hoped the EU and its member countries would make positive responses to China's efforts to fight protectionism.
The trade surplus with the EU has already eased so far this year, said Sun Yongfu, who is in charge of European affairs at the ministry.
Customs figures show China's surplus with the EU totaled US$55.7 billion in the first seven months of this year, less than half of last year's total of US$160 billion.
He said the decline in China's exports to the EU has accelerated while the fall in the country's imports from the EU has eased.
China's exports to the EU were worth US$103.5 billion in the first half, down 24.5 percent from a year earlier.
China's imports from the EU stood at US$56.5 billion in the first six months, down 13.1 percent from a year ago and easing from 15.1 percent in the first quarter.
"There has already been a sharp fall in China's trade surplus with the EU so far, and the figure for the whole year will not be as large as that of last year," he said. "Trade between the two sides will become more balanced."
Sun said he hoped the EU would check potential protectionism arising there, as with increasing trade there had been friction between the two partners.
There had been non-standard practices and violations of World Trade Organization rules in some filings, investigations and rulings, he said.
"Some of China's major trading partners have showed signs of protectionism during the global financial crisis, and there has been rising trade protectionism inside the EU," he said.
Sun said he hoped the EU and its member countries would make positive responses to China's efforts to fight protectionism.
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