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China's trade surplus expected to exceed 100 bln USD in first half
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21:21, July 05, 2007

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China''s trade surplus will top 100 billion U.S. dollars in the first half of the year, up 60 percent on the same period of last year, an analyst with the General Administration of Customs told Xinhua.

Huang Guohua, a senior statistical analyst with the administration, predicted that the June trade volume and trade surplus figures would exceed May because of a surge in exports spurred by the latest tax policy change.

Huang said the total exports and imports in the first half would be close to one trillion U.S. dollars.

Manufacturers have been rushing to export as much as possible before the deadline after the government announced on June 19 it would cut or eliminate export tax rebates for 2,831 commodities starting July 1.

The new policy, which covers more than a third of the total number of items listed on customs tax regulations, was seen as the toughest measure so far to combat overheated export growth and ease frictions between China and its trade partners.

The latest export-tightening move -- which imposed extra export tariffs and cut import duties as of June 1 -- has created an export boom and lifted May''s trade surplus by 22.45 billion U.S. dollars, up 73 percent on the corresponding period of last year.

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