China’s Foreign Trade Report (Spring 2011) (hereinafter referred to as the Report) was released by MOFCOM on April 22, which is a description of features for China’s foreign trade in 2010 and the first quarter of 2011.
According to the Report, China’s foreign trade achieved rapid recovery growth in 2010, and import and export surpassed pre-crisis level, hitting a record high, and successfully met the goal set in 11th Five-Year Plan for foreign trade development. In the first quarter of 2011,China’s import and export maintains a rapid growth momentum, with structure further optimized, and trade balance further improved.
The Report noted that the environment forChina’s foreign trade will be improved in general in 2011, but it still confronts with difficulties and challenges. All factors considered,China’s foreign trade in 2011 will maintain a steady growth, but there might be a slight decrease of growth rate compared with that in 2010. Import growth is expected to be faster than export growth, and trade balance will be further improved due to increasing domestic demand, import promotion policies, as well as price rise of major commodities in global market.
Source: Ministry of Commerce Website; http://english.mofcom.gov.cn/aarticle/newsrelease/significantnews/201104/20110407523805.html