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People's Daily Online>>China Business

China needs arduous efforts to become strong trade nation: white paper

(Xinhua)

13:32, December 07, 2011

BEIJING, Dec. 7 (Xinhua) -- China will need "arduous efforts" and a relatively longer period of time to transform into a major trade country in terms of competitiveness, according to a government white paper released on Wednesday.

Although China has become the world's largest exporter, its exports mainly focused on low value chain activity of manufacturing, which required high resource inputs, high energy consumption and environmental costs, said the white paper titled "China's Foreign Trade", which was released by the Information Office of the State Council.

It noted that China is still a developing country and the international competitiveness of domestic enterprises and risk-resistance of some industries are relatively weak.

The country's trade volume of goods totaled 2.974 trillion U.S. dollars in 2010, compared with only 20.6 billion U.S. dollars in 1978 when the country initiated its reform and opening up policy.

The white paper said China has grown into an open economy and its development, benefited from economic globalization and international cooperation, also benefited foreign enterprises investing in China.

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