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Vice commerce minister urges to boost China's imports

(Xinhua)

11:00, October 03, 2011

China should boost imports to balance trade as the country has emerged as a major global importer, a senior official said in a forum on imports held in Shanghai.

The time has come for the government to attach equal importance to imports and exports, said Zhong Shan, vice minister of commerce.

China's imports have boomed since the country entered the World Trade Organization, and have contributed to the country's steady and rapid economic growth, Zhong said.

But import policies are far from perfect, and the country's import structure also needs optimized, Zhong said.

Governments, industry associations and enterprises should work together to boost imports, the vice minister said.

China, now the second largest importer in the world, witnessed its imports expand 3.7 times from 2002 to 2010.

The country's imports showed vigorous growth while exports were dampened by waning demand overseas amid sluggish global economic recovery.

According to the General Administration of Customs, in August, China's imports jumped 35.2 percent from last year, sharply up from the 22.7-percent increase in July. Meanwhile, exports expanded 34.4 percent, easing from July's 38.1-percent growth.

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