| China 2007 trade hits new record |
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| Thursday,January 17,2008 Posted: 22:33 BJT(33 GMT) |
| From:英国商务处 Article type:Redistributed |
According to the statistics from the General Administration of Customs of China, China’s total trade surged to a new high of 2.17 trillion U.S. dollars in 2007, up 23.5 percent from a year earlier.
In 2007, exports rose 25.7 percent to 1.22 trillion U.S. dollars, and imports climbed 20.8 percent to 955.8 billion U.S. dollars. The export growth was 1.5 percentage points lower than in 2006,while the import growth posted a gain of 0.9 percentage points. The annual trade surplus soared to $262.2 billion, up 47.7 percent over a year earlier.
In 2007, the European Union was still China's largest trading partner, and Japan its third largest. Trade with the EU rose 27 percent year-on-year to 356.15 billion U.S. dollars, the United States remained China's second largest trading partner with the bilateral trade volume standing at 302.08 billion U.S. dollars last year, up 15 percent compared with 2006,while Japan reached 236.02 billion U.S. dollars, up 13.9 percent.
The trade surplus growth was 69.4 percent for the first three quarters of 2007 and nearly 75 percent of 2006. The country's trade surplus for 2006 stood at 177.47 billion U.S. dollars. It indicated that the expanding trade gap was effectively checked as the government's policy adjustments began to pay off.China had been striving to adjust the trade mix by improving policies concerning export tax rebates, tariffs and processing trade and by restricting exports of high energy consuming products.
(Sources: Xinhua)
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