China to record small trade surplus in 2010

China is expected to record a small trade surplus in 2010, Chen Mingde, minister of China's Ministry of Commerce, said while attending the Second World Investment Forum in Xiamen on Sept. 7.

Chen said that China has maintained a regular trade surplus in recent years, but the surplus has been decreasing. He stressed that the surplus only accounts for a very small part of the total import and export volume and a very small percentage of China's GDP.

In 2008, China's trade surplus stood at 290 billion U.S. dollars, but in 2009, the surplus decreased to 190 billion U.S. dollars. The surplus of the first seven months of 2010 is equal to that of the same period of 2009. Chen predicts that China will still have a small trade surplus in 2010.

"China's foreign trade policy is still maintaining exports and increasing imports. This will not only promote China's own economy, but also have a positive influence on the countries surrounding China," Chen said.

According to the data from the China Customs, China's total import and export volume in the first seven months of 2010 was more than 1.6 trillion U.S. dollars, up nearly 41 percent. The export volume stood at 850.5 billion U.S. dollars, up nearly 36 percent, and the import volume accounted for more than 766.5 billion U.S. dollars, representing an increase of more than 47 percent.

The surplus therefore stood at more than 83.9 billion U.S. dollars, a decrease of more than 21 percent.

By People's Daily Online