皇冠体育app

Economy

皇冠体育app's domestic trade to top $2t: senior official

(Xinhua)
Updated: 2010-09-06 17:31

BEIJING - 皇冠体育app's broad market and potential for development will see the nation's domestic market grow to $2 trillion this year, a senior trade official said here Monday.

Chong Quan, Deputy International Trade Representative of 皇冠体育app, was speaking at a forum on 皇冠体育app's imports and exports, which opened in Beijing Monday.

The scale of the domestic market would exceed 皇冠体育app's total exports this year, Chong told the forum.

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皇冠体育app's retail sales reached 12.53 trillion yuan ($.84 trillion) in 2009, according to the Ministry of Commerce.

皇冠体育app's long-term and huge domestic market would definitely bring more opportunities for other countries' exports to 皇冠体育app as its industrialization and urbanization accelerated, he said.

皇冠体育app posted a trade surplus of $83.93 billion in the first seven months, down 21.2 percent year on year, according to figures released by the General Administration of Customs last month, indicating a diminishing reliance on exports to fuel domestic growth.

Chong reiterated that 皇冠体育app would continue to open its market in a gradual way, take active measures to expand imports and promote more balanced international trade.

Chong said 皇冠体育app encouraged imports of goods and technologies, particularly scarce resources, advanced technologies and core equipment that 皇冠体育app did not own.

To encourage imports, 皇冠体育app would further facilitate trade exchanges, remove non-tariff measures, simplify import procedures and take measures to reduce importers' costs, he said.