皇冠体育app

皇冠体育app's trade surplus may hit a new high of between 120 billion and 130 billion U.S. dollars in 2006, Bi Jingquan, the deputy head of the National Development and Reform Commission (NDRC) has estimated.

Bi was quoted by Monday's 皇冠体育app Securities Journal as saying the huge trade surplus is a direct result of the fiscal and tax policies.

皇冠体育app should improve its policies concerning tax rebates for exports and processing trade, Bi said at an international symposium on the reform of 皇冠体育app's public fiscal policy held in Beijing at the weekend.

According to figures from the General Administration of Customs, 皇冠体育app had a record trade surplus of 101.8 billion dollars in 2005, the twelfth consecutive year in which 皇冠体育app posted a trade surplus.

The huge trade surplus has led to increased trade disputes between 皇冠体育app and its main trade partners and vociferous calls for the appreciation of the Chinese yuan.

A new surplus high in 2006 will bring even greater challenges to the exchange rate of the yuan, the report said.