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Minister: China's Growth of Foreign Trade Likely to Slow Down in 2001
The growth of China's foreign trade is likely to slow down in 2001 due slowing global economic growth and the high base figures over the past two years, said Chinese foreign trade minister.
Shi Guangsheng, minister of foreign trade and economic cooperation, told a press conference sponsored by the Press Center of the National People's Congress (NPC) which has been in session in Beijing since March 5 that still China will maintain a substantial growth in foreign trade this year to make a good start of the 10th five-year plan period (2001-2005).
According to the official, China's imports and exports reached US$69.91 billion in the first two months, up 16 percent over the same period of last year, with exports being US$36.14 billion, up 14.5 percent year-on-year, and imports being US$33.77 billion, rising by a comparable 17.7 percent.
During the same period, China's contractual foreign investment amounted to US$9.202 billion and the amount of foreign capital actually used reached US$4.576 billion, 47.09 percent and 24.15 percent higher than in the corresponding period of last year.
Source: China Daily
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