Accessibility links

China's Trade Surplus Expected To Triple


7 October 2005 -- Chinese state media said today China's trade surplus could triple to as much as $100 billion this year, generating new frictions with the country's trading partners.

The reports cited a Commerce Ministry report that said a 30 percent jump in exports will account for much of the increase.

Last year, China's trade surplus was $32 billion.

The Commerce Ministry said that while the huge trade surplus helps expand the country's foreign-exchange reserves and fuel economic growth, it would also have negative effects.

The United States says China is keeping its currency, the yuan, undervalued to give it an unfair trade advantage.

China has also been locked in a number of major trade disputes this year, especially in the textile sector with the United States and the European Union.

(AFP)
XS
SM
MD
LG