China cools hot foreign trade
The Ministry of Commerce of China (MOFCOM) anticipates the exports of the country to increase 15% year on year to $682 billion in 2005. The ministry expects the imports to increase 16% year on year to $651 billion. The rate of increases shows a decline from the export and import increases in 2004 which reached 35.4% and 36% respectively. The ministry warns that high global crude oil prices and the increases in the prices of raw materials would become a hunch on China's foreign trade this year.