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People's Daily Online>>China Business

China's strong trade growth in past decade shores up world economy: white paper

(Xinhua)

13:27, December 07, 2011

BEIJING, Dec. 7 (Xinhua) -- China said Wednesday that its strong growth in foreign trade during the past decade has significantly contributed to world economic growth.

From 2000 to 2009, the average annual growth rates of China's exports and imports were 17 percent and 15 percent, respectively, much higher than the 3 percent annual growth of total world trade, according to a white paper released by the Information Office of the State Council Wednesday.

The development of China's foreign trade has not only accelerated the modernization of its economy and improved people's living standard, but also been a significant force contributing to world economic growth, the white paper said.

Since 2001, China's import of goods has increased by approximately five times, representing an annual growth rate of around 20 percent.

China's rapidly expanding imports have become a major driving force for global economic growth, creating an enormous market for its trading partners to augment their exports, according to the document.

At present, China is the largest export market for Japan, Republic of Korea, Australia, ASEAN, Brazil and South Africa, the second largest for the EU, and the third largest for the U.S. and India.

During the international financial meltdown, China's foreign trade was among the first to stabilize, greatly promoting the recovery of the world economy, the white paper said.



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