Trade surplus likely to top US$150bn

China's trade surplus is likely to reach a record US$150 billion this year National Bureau of Statistics' chief economist Yao Jingyuan told an automotive forum in Shanghai, AFP reported. If proved correct, the 2006 surplus will represent an increase of nearly 50% over the 2005 result, which totalled a record US$102 billion. By September, China had already racked up a surplus of US$110 billion. Yao also said that economic growth would definitely exceed 10% this year while China's foreign exchange reserves will pass US$1 trillion. Reserves reached US$987.9 billion at the end of September and, based on the recent pattern of US$18.8 billion average monthly increases, should have reached US$1 trillion by late October. However, official confirmation of this is not expected until November.