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China's foreign trade volume has hit over $800 billion US dollars, up 23.7 percent from the same period of last year, the General Administration of Customs said on Monday.
Statistics show that China's aggregate surplus for the first five months has jumped 84 percent year-on-year to $85.7 billion US dollars.
Huang Guohua, senior analyst with the administration said the surplus growth in May reflected enterprises' response to the government's latest trade policy change.
The Ministry of Finance said on May 21 that the country would impose extra export tariffs, while cutting import duties as of June 1, to narrow its widening trade surplus.
Analysts say the multi-billion dollar surplus is likely to continue. Yang Hongbin, an official with the Ministry of Commerce, forecasts that the trade surplus for the first half of the year would hit $110 billion US dollars.
Official from with the Ministry of Commerce said the fact that China has become the world's factory has somewhat expanded China's export and reduced its import. Some Western countries' technological ban on China, also helped curb import increases. |
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