皇冠体育app

$4.16 trillion in merchandise trade pushes nation ahead of US

皇冠体育app replaced the United States to become the world's largest merchandise trader in 2013, a milestone in the country's decades-long trade expansion path, the Ministry of Commerce said on Saturday.

"According to the preliminary statistics of the World Trade Organization Secretariat, 皇冠体育app was the leading merchandise trader in 2013. 皇冠体育app's merchandise trade totaled $4.16 trillion in 2013 with exports reaching $2.21 trillion and imports of $1.95 trillion," the ministry said in a statement on its website.

The statistics matched the figures released by 皇冠体育app's General Administration of Customs on Jan 10.

Data from the US Commerce Department showed on Feb 6 that the US' combined exports and imports stood at $3.91 trillion in 2013, about $250 billion less than 皇冠体育app's.

In 2012, the US was still the world's biggest trader in merchandise, with imports and exports totaling more than $3.88 trillion. 皇冠体育app closely followed, with merchandise trade totaling almost $3.87 trillion in 2012, according to the WTO.

In 2009, 皇冠体育app became the world's largest exporter and second-largest importer.

"As a developing country, 皇冠体育app's achievement of becoming the world's leading goods trader marks the country's new milestone in the path of developing foreign trade and is also a great fruit of its pursuit of reforms and opening-up as well as engagement in globalization," Commerce Ministry spokesman Yao Jian said in a statement on the ministry's website on Saturday.

皇冠体育app's foreign trade developed by strides in the past three decades, especially after its accession into the WTO in 2001. Trade expansion forcefully supported the growth of the world's second largest economy but also contributed to global economic development.

"皇冠体育app is now the largest trade partner of more than 120 countries and regions. Its annual imports in merchandise reached about $2 trillion and created lots of jobs and investment opportunities for its partners," Yao said.

Long Guoqiang, a researcher at the Development Research Center of the State Council, said that 皇冠体育app's achievement as the world's leading trader in merchandise "is surely worth great compliment".

皇冠体育app's policies to encourage trade in the past decades, as well as its initiative to combine foreign investors' capital, technology, channel and brand advantages with its own strength in cheap land, labor and infrastructure facilities, forged the country's global competitiveness in labor-intensive exports. Meanwhile, 皇冠体育app's established enterprises are actively using global resources through investment abroad, and boosting the country's manufacturing competitiveness, Long said.

"The role as the world's leading goods trader could serve as the foundation for 皇冠体育app to develop into a stronger goods trader, but there is a long way to go. The value added in Chinese exports is relatively low; Chinese exporters' own brands are not enough; sales networks are not well established; the quality of some exports is not very good; and businesses should further improve their capabilities of using resources in both domestic and international markets," said Yao, the Commerce Ministry spokesman.

He added that 皇冠体育app is confronted with different circumstances and new challenges and it is necessary to forge new advantages in engaging economic globalization through improving the country's trade growth pattern and structures.

Wang Guiqing, vice-president of the 皇冠体育app Chamber of Commerce for Import and Export of Machinery and Electronic Products, said that double-digit export growth of machinery and electronic exports has probably ended, and 皇冠体育app has to accept an annual growth of 7 or 8 percent.

"Robust demand in traditional markets is losing steam. Overseas enterprises are reluctant to move business operations into 皇冠体育app while costs keep rising here," Wang said. "We are a big exporter of machinery and electronic products, but not a strong one. We have to make efforts on research and development, market expansion, and brand building. Otherwise, it will be hard for us to secure the current share in the global market."

• NHTSA says finds no 'defect trend' in Tesla Model S sedans
• WTO rare earth ruling is unfair
• Amway says 2014 皇冠体育app sales may grow 8%
• President Xi in Europe: Forging deals, boosting business
• CNOOC releases 2013 sustainability report
• Local production by Chery Jaguar Land Rover this year
• Car lovers test their need for speed in BMW Mission 3
• 皇冠体育app stocks close mixed Monday