Others News
- 2007 trade surplus seen at $260b
Date: 5-Dec-2007 Sources: (Shenzhen Daily)
CHINA'S trade surplus is expected to reach US$260 billion in 2007, rising less than forecast earlier thanks to changes in the country's trade policies, a Ministry of Finance official said Saturday.
China, which has been trying to rein in its massive trade surplus under pressure from its trading partners, will further adjust some export policies, including raising export taxes, Jan. 1, 2008, said Wang Wei, who heads the ministry's custom tax department.
'China's expected trade surplus in 2007 will be much lower than US$300 billion we forecast early this year, due to the government's efforts to decrease exports,'Wang told reporters on the sidelines of an industry conference organized by online consultancy Mysteel.
The country's trade surplus rose 59 percent to US$212.4 billion for the first 10 months from a year earlier, outstripping the full-year 2006 sum of US$177.47 billion, with a record monthly trade surplus of US$27.05 billion for October.
The final months of the year are usually busy for Chinese factories shipping Christmas orders.
Wang said, however, that the Central Government's policies to restrain exports and promote imports have been having an impact, and more adjustments will be announced in coming months.
'Another series of changes in export policies will be implemented starting from January 1, 2008,'Wang said.
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