Home>News Center>China
       
 

Nation jumps to be world third largest trader
By Zhang Jin (China Daily)
Updated: 2005-01-11 22:04

China registered a 35.7 per cent surge in foreign trade last year, accounting for US$1.15 trillion exchanged, to become the world's third largest trading power behind the United States and Germany.

A file photo taken on Deceber 9, 2004 shows the operation of the port of Shanghai. [newsphoto]
According to the Ministry of Commerce, exports last year ballooned to US$593.4 billion, reflecting a year-on-year increase of 35.4 per cent. Imports rose 36 per cent to US$561.4 billion.

The yearly surplus came to US$32 billion, compared with US$25.5 billion in the previous year.

The nation underwent a trade deficit from January to August.

"China's imports rose sharply in the first half of the year," said Fan Ying, a professor with Beijing's Foreign Affairs University. "Blistering fixed-asset investments in certain sectors such as steel, real estate and construction have demand for raw materials soaring."

"Prices for steel, rubber, plastics and cotton have also skyrocketed," she said.

In April, the Chinese Government launched efforts to clamp down on overheated investment in selected sectors such as steel, alumina and cement.

Credit tightening and scrutiny over approval of land deals soon cooled down the investment spree and placed the growth of imports at a reasonable level.

Economists cited market liberalization and brisk economic growth, as the major reasons behind the strong growth of foreign trade.

"Chinese companies and individuals have been able to receive trading rights through registering since July 2004," said Fan Ying. "That has injected vigour in the market for millions of private, small and medium-sized enterprises."

And overseas firms have been allowed greater access to the nation's trading markets with shareholder requirements loosening.

At present, about 60 per cent of China's foreign trade is conducted through foreign-invested and private companies.

When the trade volume surpassed a landmark of US$1 trillion in November, Chong Quan, Ministry of Commerce spokesman, said China was set to follow the United States and Germany to become the world's third largest trader by volume.

Large but not strong

"China is a 'large' trader," he said.

But he confessed that the nation still has a long way to go before it becomes a "strong" trading power, since the country lacks a competitive global sales network and branded goods.

Minister of Commerce Bo Xilai last month urged Chinese exporters to enhance the quality and added value of their goods in a bid to sustain export growth.

Looking forward to this year's trade scenario, market observers say the growing momentum will remain strong, with global and domestic economic climates both conducive to China.

"China's opening-up of its markets to meet World Trade Organization commitments, domestic economic growth and the rallying of major world economies like the United States, Japan and the euro-zone, all bode well for Chinese imports and exports this year," Fan said.



 
  Today's Top News     Top China News
 

Nation jumps to be world third largest trader

 

   
 

Hu offers systematic cure to corruption

 

   
 

Cross-Straits charter flight talks proposed

 

   
 

Draft law aims to hold back monopolies

 

   
 

Wintry Beijing tackles heating shortfalls

 

   
 

'Extremely critical' flaw threatens IE users

 

   
  Hu offers systematic cure to corruption
   
  Chinese youths score success for diplomacy
   
  Suzhou vice-mayor suspected in bribery case
   
  Guangdong to divert water to fight salt tides, drought
   
  Swindlers get away with 3 million yuan
   
  China tycoon donates $1.2m for tsunami aid
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 日本按摩xxxxx高清| JAPANRCEP老熟妇乱子伦视频| 欧美精品免费在线| 免费高清欧美一区二区视频| 中文字幕+乱码+中文乱码www| 麻豆国产成人AV在线| 国产香蕉免费精品视频| h片在线播放免费高清| 情人伊人久久综合亚洲| 久久久久亚洲av无码去区首| 日韩精品无码人妻一区二区三区| 亚洲国产成人久久综合一| 毛片手机在线观看| 国产日产欧产精品精品电影| 97人妻天天爽夜夜爽二区| 奇米影视奇米四色888av| 一级黄色香蕉视频| 欧美77777| 亚洲欧美在线精品一区二区| 狂野猛交xxxx吃奶| 免费大片av手机看片| 精品国产一区二区三区在线观看| 嘟嘟嘟www在线观看免费高清| 色香蕉在线观看| 国产人妖在线视频| 高贵娇妻被多p| 国产成人综合久久综合| 欧美黄色一级在线| 国产熟女高潮视频| www.日本在线视频| 国产精品久久女同磨豆腐| 2022国产精品最新在线| 国产绳艺sm调教室论坛| 中国女人内谢69xxx| 无人码一区二区三区视频| 久久se精品一区精品二区 | 国产成人无码免费看片软件| 亚洲精品456| 国产欧美日韩综合精品一区二区| 亚洲娇小性色xxxx| 国产成人综合欧美精品久久|