China does not seek big trade surplus - official

by lexie Fri Sep 16, 2011 4:16 pm

Economics 9/16/2011

China does not seek big trade surplus - official

TOKYO, Sept 16 (KUNA) -- China, the world's biggest exporter, does not intend to pursue a large and continuous trade surplus, a senior government official said in Beijing Friday, according to state-run Xinhua News Agency.
Speaking at a forum commemorating the 10th anniversary of China's entry into the World Trade Organization (WTO), Vice Minister of Commerce Wang Chao called for other nations to relax unnecessary restrictions on exports.
"The Chinese government does not want a large and continuous trade surplus and will continue to reform its import system to make trade more free and convenient," Wan was quoted as saying.
He reiterated that China will stick to a policy of opening up its market and expanding market entry.
China's trade surplus for August stood at USD 17.75 billion, down from USD 31.48 billion in July, as imports have surged to record levels since March, the General Administration of Customs said last week.
The trade surplus shrank to USD 92.73 billion between January and August, down 10 percent year-on-year. Wang called on all WTO members to make more efforts to rejuvenate the global economy and give a boost to the Doha talks.
China, which replaced Germany as the world's biggest exporter in 2009, is often under criticism from major trading partners, such as the US, of devaluating the Chinese yuan to earn artificial price advantages.

http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2190698&Language=en