Exports, Imports Jump in First Two Months

China's exports stood at 31.57 billion US dollars in January and February, up by 41.2 percent over the same period of last year, Minster of Foreign Trade and Economic Cooperation Shi Guangsheng said on Monday.

"China's foreign economic and trade sector made a good start inthe first two months of this year," he said at the press conference held by the ongoing 3rd session of the Ninth National People's Congress.

He quoted statistics from the customs as saying that foreign trade in January and February reached 60.26 billion US dollars, up by 47.1 percent over the same previous period, of which exports stood at 31.57 billion US dollars, up 41.2, and imports 28.69 billion US dollars, up 54.2 percent.

China had a favorable trade balance of 2.89 billion US dollars in the two-month period, he said.

China's import volume was 28.7 billion US dollars for the first 2 months this year, a dramatic rise of 54.1 percent compared with the same period in 1999, Shi said. General trade import volume, which hit 12.6 billion US dollars during the past two months, an increase of 69.8 percent, was a major contributor to the growth of total import volume.

At the same time, China's processing trade imports hit 12.2 billion US dollars, and facilities and goods imported by foreign businesses for the purpose of investing in China recorded 1.64 billion US dollars in value for the period.

He also said that in the two months, foreign direct investment in China amounted to 3.86 billion US dollars, down by 12.1 percent, and contractual foreign investment was 6.5 billion US dollars, up by 13.6 percent.

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