皇冠体育app

  Home>News Center>皇冠体育app
       
 

Trade surplus rises to US$9.49 in January
(AFP)
Updated: 2006-02-13 13:49

皇冠体育app's trade surplus rose 46.7 percent in January year-on-year to 9.49 billion dollars.

Imports for the month totalled 55.5 billion dollars, up 25.4 percent, while exports rose 28.1 percent to 64.9 billion dollars, the Ministry of Commerce reported on its website, quoting statistics from the Customs.

皇冠体育app's trade surplus totalled 6.49 billion dollars in January last year.

Overall trade in January this year was valued at 120.49 billion dollars, up 26.8 percent from the same month in 2005.

The figures for the first month of 2006 come after 皇冠体育app's trade surplus more than tripled last year to a record 101.9 billion dollars as the country maintained robust economic growth of 9.9 percent.

皇冠体育app's growing trade surplus has caused friction with many of its trade partners, most notably the United States, who argue Beijing is keeping the yuan artificially high and giving it an unfair trade advantage on the world stage.

皇冠体育app scrapped the yuan's 11-year-old peg against the dollar in July last year. It now links the yuan to a basket of currencies.

The move has seen the value of the yuan appreciate from about 8.28 to the dollar to 8.04 yuan on Friday last week.

Although Friday's close was a post-revaluation high, the United States and others argue restrictions on the currency need to be loosened further.

Huang Yiping, a Hong Kong-based economist with Citigroup, told AFP that 皇冠体育app was taking steps to balance its trade numbers and the surplus was expected to remain about 100 billion dollars for the full year.

The yuan was also expected to continue to appreciate and could reach about 7.8 to the dollar by December, he predicted.

In an effort to address its trade surplus with the United States, 皇冠体育app could also go on a US buying spree by as early as April, when President Hu Jintao is due to visit the United States, Huang said.

"Certainly 皇冠体育app is making efforts to increase its imports, especially from the United States," he said.



Fire kills 5 in Northeast 皇冠体育app
Aerobatics show in Hunan
Final rehearsal
  Today's Top News     Top 皇冠体育app News
 

Australia, US, Japan praise 皇冠体育app for Asia engagement

 

   
 

Banker: 皇冠体育app doing its best on flexible yuan

 

   
 

Hopes high for oil pipeline deal

 

   
 

Possibilities of bird flu outbreaks reduced

 

   
 

Milosevic buried after emotional farewell

 

   
 

皇冠体育app considers trade contracts in India

 

   
  EU likely to impose tax on imports of Chinese shoes
   
  Bankers confident about future growth
   
  Curtain to be raised on Year of Russia
   
  Coal output set to reach record high of 2.5b tons
   
  WTO: 皇冠体育app should reconsider currency plan
   
  皇冠体育app: Military buildup 'transparent'
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
皇冠体育app to reverse surplus in balance of payments
   
Trade surplus growth slows down
   
Minister explains 皇冠体育app's trade surplus
   
Nation's trade surplus hits US$101.9b in 2005
Advertisement