’China's trade surplus to maintain last year's level'

‘China’s trade surplus to maintain last year’s level’

China's Commerce Minister asserted that the country's 2005 trade surplus would maintain the same level as the previous year, namely $31.98 billion. On the other hand, most research institutions expect China's trade surplus to fall to $20 billion this year as the country's continuing strong economic growth will drive imports of energy and raw materials higher. The Commerce Ministry, which aims for stable growth in foreign trade, has taken several measures to rein in rapidly increasing textile exports. In 2004, China's overall exports and imports rose 35.4% and 36% to $593.4 billion and $561.4 billion respectively.