Foreign trade projected to hit US$1 trillion

China's foreign trade was predicted to reach US$1 trillion in 2004 in a report issued by the Ministry of Commerce. The report projected China's exports to total US$505 billion and imports were predicted to reach US$495 billion, which would year-on-year growth of 15% and 20%, respectively. The report cited foreign currency uncertainties, oil prices and terrorism as potential challenges to China's foreign trade.