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Foreign trade grows steadily with wider opening-up |
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17:08, August 02, 2007 |
China's foreign trade volume for the first half of 2007 totaled 980.9 billion US dollars, up 23.3 percent, with exports growing 27.6 percent to 546.7 billion dollars and imports up 18.2 percent to 434.2 billion dollars. The Ministry of Commerce (MOC) forecast the country's trade volume would increase by around 20 percent in the year to reach more than 2.1 trillion dollars. In the first six months of the year, China's foreign trade showed five following salient features:
First, stable growth attained in total foreign trade volume. China recorded an average annual rise of 28 percent in its foreign trade since its accession to WTO and, in the first half year, this momentum retained. Trade with major partners showed a sound trend and, according to a relevant report, it realized 158.4 billion dollars with the European Union (EU), 140.6 billion dollars with the United States, and 110 billion dollars with Japan, or up 27.3 percent, 17.4 percent and 14.7 percent respectively.
Second, new progress scored with pluralistic markets. China's export to Russia, India, South Africa, the ASEAN (or the Association of Southeast Asian Nations) and the Republic of Korea (ROK) rose 71.9 percent, 64 percent, 40 percent, 32.8 percent and 31 percent respectively in the first half of the year, a rate obviously much faster than that for its major trade partners such as the U.S. EU and Japan. Moreover, the ratio of its trade to ASEAN, ROK, Russia, India, Africa and Latin America in the country's trade volume increased to 24 percentage points from 21 percentage points during the same period in 2006.
Third, trade mix keeps optimizing. Apart from iron and steel products, there has been a marked drop in the export commodities of other categories and a negative growth in the export of minerals and fuels. There has been a hefty rise, however, with the export of machinery and electrical products, high-tech products and farm produce, and the export of air conditioners, DVDs, cameras, notebook computers or laptops, mobile phones, color television sets, containers, shoes, toys, suitcases, bags and luggage packs continue to rank the first in the world.
Fourth, an apparent improvement has recorded with the quality of growth. The increase range for the export of color TV sets, automatic data processing equipment and accessories, cars, chasses and containers exceeds 15 percent, and the qualification rate of foods exported to the U.S., EU and Japan surpassed the 99 percent mark.
Fifth, certain effects have attained in the work done to spur the growth mode of external trade. Since early this year, a number of relevant departments have adopted a serial measures in compliance with requirements of the State Council, or the central government, to adjust the export refund rates for some export commodities and import/export tariff rates, readjust processing trade policies, and sort our or regulate some outdated policies, so that the export of a few heavy energy-consuming, highly-polluting and resources-related products have been contained to some extent.
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