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One-third of China's 2010 tax revenue from foreign trade

(Chinanews.com)

15:12, August 24, 2011

Edited and translated by Liu Xiaoning, People's Daily Online

On Aug. 23, 2011, the State Council Information Office of the People's Republic of China held a news conference to discuss the situation of country's foreign trade and the upcoming Canton Fair.

Jiang Yaoping, vice minister of commerce, said that foreign trade has became China's main engine of economic growth over the last 30 years, contributing 20 percent on average to GDP growth.
In 2010, taxes on export-oriented economic activity amounted to up to one-third of total tax revenue and directly created more than 80 million jobs, of which 60 percent came from rural areas. In addition, the development of foreign trade is vital to industrial upgrades and innovation of institution.

The 110th Canton Fair is set to open in October in the southern China city of Guangzhou. In 2006, the Canton Fair was renamed the China Import and Export Trade Fair, which is does not focus solely on exports but also pays great attention to attract more foreign investments.

As of 2011, the Canton Fair has attracted around 4,000 oversea exhibitors. At the 109th Canton Fair, the exhibition area for foreign companies covered a total area of 20,000 square meters, with 534 oversea exhibitors, which played an active and effective role in balancing exports and imports.

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GWM at 2011-08-24109.238.72.*
This will shrink in 2011. Unemployed people in the west simply have no more money. Everything made in China will have to be bought by Chinese.
  

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