China's Foreign Trade to Top US $ 500 Billion

Home>>Business

Last updated at: (Beijing Time) Sunday, December 30, 2001

China's Foreign Trade to Top US $ 500 Billion

China's import and export trade has witnessed a steady growth this year. It is predicted that the total import and export volume will exceed US $500 billion for the first time, an increase of 7 percent over last year.

Export growth rate will not be lower than 5 percent and import growth rate will stand at 8 percent.

According to news from the Ministry of Foreign Trade and Economic Cooperation, from January to November this year, the total import and export volume reached US $ 462.277 billion, an increase of 7.4 percent. Exports hit US $ 241.57 billion, up 6.3 percent over the same period of last year, import topped US $221.2 billion, up 8.6 percent.

The accumulated trade surplus reached US $ 20.3 billion. China continues the good momentum in trade surplus.

By the end of November this year, foreign reserve topped US $ 208.31 billion, a jump of US $ 42.74 billion over the same period of last year.

China to Strive to Export More in 2002, Minister

China will work to maintain next year's foreign trade at this year's level while trying to increase export, Chinese trade minister Shi Guangsheng said December 28 in Beijing.

"Export is likely to grow by no less than five percent this year and import by about eight percent," said the minister of foreign trade and economic cooperation.

Next year, efforts will be made to realize a 10-percent increase in the import and export of machinery and electronics products and a 15-percent rise in the export of high-tech products, he said. full story

Statistics on China's Import and Export in 2001

By PD Online Staff Li Yan

China Stresses Role of Commerce Chambers in Foreign Trade

Yearend: China's Foreign Trade to Face Severe Challenges Next Year

Foreign Trade Departments Urged to Improve Work in 2002

>> Full Coverage