We trade fair: China
China trades fairly with the rest of the world and is pursuing a balance in its external trade, commerce minister Bo Xilai said on Friday.
By Agencies |
KUALA LUMPUR: China trades fairly with the rest of the world and is pursuing a balance in its external trade, commerce minister Bo Xilai said on Friday.
He said that rather than pursuing big trade surpluses with other countries Beijing is trying to narrow its trade surplus.
China is under strong pressure from Washington and Brussels to cut its trade surplus, which rose 74% last year to a record $177.5 billion and has climbed more than 80% in the first six months of 2007 from the same period a year earlier.
“Yes, indeed the trade surplus is here in China, but the real profits and benefits are actually in Europe and the United States,” Bo told reporters in Malaysia’s administrative capital of Putrajaya after witnessing a loan signing for a Malaysian bridge project. He said Chinese exporters only make small profits as their products, though of good quality, are inexpensive.
“China has always continued fair business with the rest of the world,” Bo said. “The Chinese government does not pursue any big trade surpluses with other countries. What the Chinese government is pursuing is a balance in our external trade.”
He said that rather than pursuing big trade surpluses with other countries Beijing is trying to narrow its trade surplus.
China is under strong pressure from Washington and Brussels to cut its trade surplus, which rose 74% last year to a record $177.5 billion and has climbed more than 80% in the first six months of 2007 from the same period a year earlier.
“Yes, indeed the trade surplus is here in China, but the real profits and benefits are actually in Europe and the United States,” Bo told reporters in Malaysia’s administrative capital of Putrajaya after witnessing a loan signing for a Malaysian bridge project. He said Chinese exporters only make small profits as their products, though of good quality, are inexpensive.
“China has always continued fair business with the rest of the world,” Bo said. “The Chinese government does not pursue any big trade surpluses with other countries. What the Chinese government is pursuing is a balance in our external trade.”
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