China: Exports Grow by 32.7% in First Half

14/07/2005

China's foreign trade continued its robust growth in the first half of this year, but is expected to encounter obstacles in the coming months.

Trade volume rose about 23.2 per cent year on year in the first six months this year to US$645 billion, the latest statistics from China's General Administration of Customs revealed.

Exports from China grew to some US$342.3 billion in the first half of this year, a 32.7 per cent rise over the previous year; imports to China reached US$302.7 billion in this period, a year-on-year rise of 14 per cent.

China had a trade surplus of US$39.6 billion in the first half of this year, while the surplus for June alone stood at US$9.7 billion.

China's widening trade surplus has aroused concerns in other countries, in particular the United States.

In fact, the two sides are seeking mutually satisfactory solutions to balance bilateral trade.

The China Council for the Promotion of International Trade recently launched a project with the US Commerce Department in a bid to narrow China's trade surplus with the United States.

Under this project, the two sides will establish agencies in some Chinese cities, which will take responsibility for helping US enterprises look for potential clients in China, as well as providing US businesses with information about China and promoting US exports to China.