China’s exports in the first four months of this year totalled US$91.385bn, 12 per cent more than in the same period last year, while imports rose by 8.8 per cent year-on-year to reach US$83.135bn.
According to a report by the Chinese Academy of International Trade and Economic Co-operation, a think-tank under the trade ministry, China’s trade surplus will fall considerably in 2002, with the possibility of a trade deficit in some months. Following cuts in import tariffs under China’s commitments to the World Trade Organisation, imports will rise by 7 per cent this year, compared with export growth of 5 per cent. This will leave China with a trade surplus of around US$20bn, US$2.5bn less than in 2001.
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