Home>News Center>China
       
 

Nation likely to be 3rd largest trading power
By Zhang Jin (China Daily)
Updated: 2004-11-12 22:25

China is likely to become the world's third largest trading power by the end of 2004, said the Ministry of Commerce.

According to a report jointly published on Friday by the ministry and its think tank, the Chinese Academy of International Trade and Economic Co-operation, China is expected to chalk up a trade volume of US$1.1 trillion for the full year and rank it third in the world.

That will be an increase of more than 30 per cent year on year.

China was the fourth largest trading power by the end of 2003, only behind the United States, Germany and Japan.

But despite the impressive gains, analysts cautioned that officials should give higher priority to the sustainable development of its foreign trade and the competitiveness of its exports.

"It is an urgent task to improve China's export structure," said Fan Ying, a professor at Beijing's China Foreign Affairs University. "Some concerns should top regulators' agenda in mapping out foreign trade policies, such as environmental protection, domestic industries' competitiveness and research and development ability."

She called for trade officials to put more efforts in encourage the exportation of high-value-added and branded products.

"Otherwise, the country's foreign trade and exports will not continue to proceed on a fast and healthy track," Fan claimed.

Predicting the trade scenario in 2005, the report said the growth rate will slow down to about 15 per cent due to a combination of factors.

It cited an unstable global economy, rising friction with trade partners, and problems in implementing tax rebates for exporters as key challenges in maintaining the robust growth in exports.

"Because prices for energy and raw materials are continuing to rise, and supply of coal, electricity, oil and transportation continue to be tight... it will be very difficult to sustain the rapid growth of foreign trade in 2005," it said.

As for imports, Fan said their growth rate is likely to surpass that of exports.

"China's economic growth will remain robust in 2005," she said, believing it will drive up the nation's appetite for raw materials such as steel, iron ore, rubber and cotton.

And falling tariffs on an array of products and wider opening of its sectors in line with China's commitments to the World Trade Organization (WTO) will also cause an increasing number of foreign goods into China, she added.

Jan-Oct trade

The ministry also released October trade figures on the same day, which showed that the country notched up a trade surplus of US$7.09 billion last month, the largest monthly trade surplus in 2004.

October exports rose 28.5 per cent to US$52.5 billion, while imports increased 29.3 per cent to US$45.4 billion.

Combined the figures from January to October, China has reached a surplus of US$10.97 billion.

The first ten months witnessed a 35.8 per cent rise in the foreign trade to come at US$926.47 billion.

Among it, imports surged 37.2 per cent to US$457.75 billion with exports jumping 34.5 per cent and hitting US$468.72 billion.

The first four months of the year saw a trade deficit of US$10.95 billion for China, but from September the figure went into the black thanks to consecutive surpluses since May.

Analysts forecast that the full year will see a small surplus.



 
  Today's Top News     Top China News
 

Nation likely to be 3rd largest trading power

 

   
 

Nutritional imbalance plagues people

 

   
 

Mine blast kills 33, injures 6 in Henan

 

   
 

Coal mining: Most deadly job in China

 

   
 

Shen and Zhao win Cup of China

 

   
 

Consumer price remains stable in October

 

   
  Hu pledges strategic partnership with Brazil
   
  Coal mining: Most deadly job in China
   
  Mine blast kills 33, injures 6 in Henan
   
  Consumer price remains stable in October
   
  Work on anti-trust legislation stepped up
   
  Wen: Nation strengthens ties with Luxembourg
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Cross-border processing investment doubles
   
Trade surplus climbs amid slowing economy
   
Economist sees rising Sino-US trade friction
   
China close to No. 3 trader
   
Stable trading relations with US expected
   
Stable trading relations with US expected
   
Trade barrier investigation rules revised
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 国产精品喷水在线观看| 一级毛片恃级毛片直播| 欧美性猛交xxxx免费看手交| 八木梓纱老师三天两夜| 草莓视频网站下载| 国产成人精品无码片区在线观看 | 欧美国产激情18| 亚洲精品欧美精品日韩精品| 精品久久久无码人妻中文字幕| 国产一级一国产一级毛片| 91免费视频网| 国产福利午夜波多野结衣| 久久久久久国产精品免费无码| 91chinesehomemadevideo| 日本不卡在线观看免费v| 久久精品国产清白在天天线| 柳菁菁《萃5》专辑| 亚洲国产精品成人精品小说| 污视频免费在线观看网站| 人妻av一区二区三区精品| 秋霞鲁丝片一区二区三区| 午夜天堂在线观看| 美女被免网站在线视频| 国产一区内射最近更新| 越南大胆女人体337p欣赏| 国产在线观看一区二区三区 | 国产一区二区三区无码免费 | 少妇高潮惨叫喷水在线观看| 中文字幕亚洲区| 护士撩起裙子让你桶的视频| 久久91精品国产91久久户| 日日夜夜精品免费视频| 久久久久久久999| 日本人强jizzjizz| 久久久噜噜噜久久中文福利| 日本电车强视频在线播放| 五月天婷婷综合网| 日韩欧美国产三级| 久久精品国产9久久综合| 日韩人妻高清精品专区| 久久精品人人爽人人爽快|