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China '06 Trade Volume to Top US$1.6 trln
2006-04-26 16:43:14      CRIENGLISH.com
China's total trade volume for this year is expected to hit 1.6 trln usd, up 15 pct year-on-year.

China's foreign trade will maintain rapid growth this year, and the total trade volume is expected to top 1.6 trillion US dollars, as per a report issued by the Ministry of Commerce on Wednesday.

 

The report predicts that China's foreign trade will increase by 15 percent compared to last year.

 

As reported by the Ministry of Commerce, during the first three months of this year, China's foreign trade has seen a rapid growth, with the total value of imports and exports reaching 371.3 billion US dollars, a 25.8 percent year-on-year rise.

 

China's trade surplus for the first quarter reached 23.31 billion US dollars, up 41.4 percent over the same time last year.

 

The Xinhua news agency quotes Liu Haiquan, a senior official in the Ministry of Commerce, as saying that trade balance was í░hard to achieveí▒ in the short term since there are increasing demands on energy, raw materials and machines to support the country's growing domestic investment.

 

Liu adds, as the country is shifting its growth model, more imports of technology and advanced equipments are needed. Therefore, the country's foreign trade will be further boosted.

 

In 2005, China's foreign trade was up 23.2 percent year-on-year to reach 1.42 trillion US dollars, a doubling in growth compared to the year 2000.

(Photo Source: Google)

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