China’s foreign trade expected to rise 15 to 20 percent in 2006

28 February 2006

Beijing, China, 28 Feb – The growth rate of China’s foreign trade in 2006 is set to be lower than that posted in 2005, but is still expected to be between 15 and 20 percent, an official said in Beijing Monday.

According to Lu Jianhua, director of the Department for Foreign Trade of the Trade Ministry, the total volume of exports and imports this year will be between US$1.63 trillion and US$1.7 trillion.

China’s foreign trade in 2005 totaled US$1.4 trillion, an annual increase of 23.2 percent.

In 2005, exports totaled US$762 billion, a 28.4 percent gain on 2004, and imports totaled US$660.12 billion, of an increase of 17.6 percent.

Lu added that China would continue to have a large trade surplus this year, but that it would be smaller than the one posted in 2005. China’s trade surplus with the United States alone totaled US$101.9 billion in 2005.

According to Lu Chinese exporters may face accusations in 2006 of dumping and subsidizing involving over US$5 billion and new trade disputes with the United States and the European Union. (macauhub)