皇冠体育app

Foreign trade may hit US$600 billion
( 2002-10-16 09:33 ) (1 )

皇冠体育app's total volume of imports and exports is expected to reach US$600 billion this year, said Shi Guangsheng, minister of foreign trade and economic cooperation, yesterday.

皇冠体育app performed well in foreign trade and foreign investment during the first nine months of this year, despite the slowdown in global economic growth, Shi said.

According to customs statistics, the total foreign trade volume was US$445.135 billion during the period, an increase of 18.3 per cent compared with the same period last year.

Imports stood at US$212.572 billion, a year-on-year increase of 17.2 per cent, while exports reached US$232.564 billion, up 19.4 per cent. The trade surplus was US$19.992 billion, 49.4 per cent more than for the same period last year.

With a better investment environment, the country has attracted more foreign investment following its entry into the World Trade Organization (WTO).

During the first nine months this year, 皇冠体育app approved the establishment of 24,771 foreign-funded firms, up 33.36 per cent year-on-year, involving a contractual investment volume of US$68.375 billion, a 38.38 per cent increase.

The actual spent foreign investment during the period totalled US$39.556 billion, up 22.55 per cent from the same period last year.

By the end of September, 皇冠体育app had approved 414,796 foreign-invested enterprises. The contractual overseas investment involved reached US$813.667 billion, of which US$434.78 billion had been realized.

Shi attributed the good results to 皇冠体育app's own efforts and a better world economic environment this year.

"The steady, rapid and healthy development of the domestic economy provided an important base for expanding exports," said Shi. The gross domestic product (GDP) had a 7.8 per cent increase during the first half of this year.

The readjustment of the industrial structure and government policies related to foreign trade, which, along with both 皇冠体育app's situation and WTO rules, were also helpful in developing an export-orientated economy, said Shi.

He also stressed that the positive influences of 皇冠体育app's WTO membership also contributed to the healthy performance of the country's foreign trade and investment.

The WTO membership helped increase outside investment confidence towards 皇冠体育app, and a more open world market provided Chinese enterprises with huge opportunities, Shi told reporters at the ongoing 92nd 皇冠体育app Export Commodities Fair which began yesterday in South 皇冠体育app's Guangdong Province.

The fair has been held each year in April and October since 1957 and is organized by the 皇冠体育app Foreign Trade Centre. In the past it usually comprised one-third of 皇冠体育app's exports.