exports in June totalled US$34.Sbn, one-third higher than in the same month last year,
according to Chinese Customs. Imports rose by 40 per cent to US$32.3bn, giving a trade
surplus of US$2.1 bn.
Bloomberg commented that the rise in exports might reflect
the yuan's faIl against the euro and the yen. However, a Ministry of Commerce think-tank
has forecast that the growth rate of China's expoits would fall to between 8 and II per cent
this year, from 22 per cent in 2002. The International Trade Co-operation Research Centre
said that the slow-down would result ~m sluggishness in the world economy and rising
global trade pro-tectionism. Last year I 8 countries filed anti-dumping lawsuits against
China, targeting expoits worth around US$1 bn.
China's trade improves despite Sars