China Related Articles On Economy and Trade

[?] Subscribe To This Site

China Related Articles

China To Become World's 2nd Largest Trader

Source: Xinhua Agency 2007-04-29
China will this year replace German as the world's second largest trader with 2.1 trillion US dollars in foreign trade and may overtake the world's largest trader, the United States,by the end of the decade, says a senior Chinese researcher.

"The country maintained a growth rate of more than 20% in foreign trade in the first quarter and is likely to maintain the momentum throughout the year," said Li Yushi, vice president of the Research Institute of International Trade and Economic Cooperation under the Ministry of Commerce.

Despite a growth rate that declined to 6.9% in March, foreign trade in the first three months totaled 457.7 billion US dollars, up 23.3% year-on-year.

Exports reached 252.1 billion US dollars,up 27.8%, while imports were valued at 205.7 billion US dollars, up 18.2%,according to figures released by the Chinese customs.

While the Ministry of Commerce projected foreign trade to grow by about 10% a year between 2006 and 2010, Li's institute predicts the growth rate will be between 12 and 15 percent.

"Based on these predictions, we can tell that China will overtake the United States to be the world's largest trader in 2010," Li told a seminar on China's foreign trade prospects in Guangzhou.

It started to lower export tax rebates on numerous items last September to help bring down its trade surplus, said Li." The government is also developing policies aimed at expanding imports by encouraging domestic companies to import state-of-the-art equipment and technologies."

The country soaring exports in 2006 expanded its trade surplus to a record 178 billion dollars, up 74% from the previous record of 102 billion dollars set in 2005.

It's trade surplus for the first two months of the year hit 39.6 billion US dollars, more than the entire first quarter of last year.

In March, however, the surplus dropped to 6.87 billion US dollars, dipping below the 10 billion US dollars mark for the first time since March 2006.

The World Trade Organization said in a report last week that China's product exports started to exceed those of the United States in the second half of 2006, but figures for the entire year show China ranked third in exports, after German and the United States.

China Environmental Problems Tackled with U.S.Help

Pollutants crossing national borders,experts say - By Andrzej Zwaniecki

Scientists are finding that industrial pollution over China can reach as far as the U.S. West Coast.

Washington - Growing concerns about international and domestic effects of industrial pollution in China have spurred the United States to help that county address its environmental challenges,according to officials and experts.

China can surpass the United States in 2007 as the largest emitter of carbon dioxide,one of the main greenhouse gases believed to contribute to global climate change. Acid rain formed from emissions coming from China has degraded forests and watersheds in parts of Asia and some Asian pollutants are reaching as far as the U.S.West Coast,experts say.

International assistance focused on improving air quality and energy efficiency can have the greatest effect both globally and within China,according to Jennifer Turner,who directs the China Environment Forum at the Woodrow Wilson International Center for Scholars in Washington.

The climate change issue does not really resonate with the Chinese, who do not want to slow down economic growth to mitigate carbon dioxide emissions, Turner said in an interview. But they are very receptive to propositions that can help them decrease energy consumption without endangering the fast pace of growth,she said.

Turner said nearly 60 U.S.nongovernmental organizations(NGOs),professional societies and universities are doing a particularly job in that country,working on energy and environmental projects. Those projects range from developing energy conservation incentives to improving water management to developing standards for energy efficient buildings.

NGOs have become the mediators and the "organizational glue" that bring together Chinese government agencies,local governments,the nongovernmental community and U.S.interests to tackle environmental issues, Turner said.

China has shown keen interest in learning from U.S. and other countries' experiences, with the 2008 Olympics providing a particularly strong incentive.

Reference Links about China

Top twenty U.S. Imports from China
China is the second largest source of U.S.imports of merchandise ($243 billion in 2005) after Canada ($287 billion). China imports surpassed those of Mexico in 2003 and of Japan in 2002.

China Reform
Lessons Other Nations Can Learn from China

China suppliers
Where to find China manufacturers and suppliers and how to verify them as reliable and trustworthy partners....

Top twenty U.S. Exports to China
U.S. Exports to China are growing faster than U.S. exports to other nations. U.S. exports to China(up 157% between 2000 and 2005)....

Is Your Career Opportunity In China?
Custom and Culture that you must know about when doing business in China

China Economy
China Power Giants Call for Electricity Price Rise

footer for China page