China's trade surplus to become world's largest

China's trade surplus will become the world's largest this year if it maintains its current growth rate in foreigh trade, said Yu Guangzhou, the vice minister of commerce, at a summit on China's economic development. China's total export volume will also overtake that of the US, making it the world's second-largest exporter after Germany, Beiing News reported (in Chinese). China's total exports trailed the US by US$70 billion last year, and are projected exceed it by US$50 billion at the current rate of growth. Yu said China's trade structure is optimized, though it still lacks competitiveness in innovation, marketing and branding on international market.