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FINANCIAL NEWS
China expects lower trade surplus this year
14 Jun 2010
(MENAFN) A spokesman for Chinese Ministry of Commerce said that the country?s trade surplus is likely to fall noticeably this year as exports outlook would not be optimistic while imports would remain robust, Reuters reported.
The spokesman noted that China’s trade surplus in the first five months fell 59.9 percent to $35.39 billion. The figure in 2009 topped $196.07 billion, down 34.2 percent year on year.
He attributed the weak export outlook to the European sovereign debt crisis, rising commodity prices and labor costs.
China would maintain stable trade policies amid the crisis, and might adjust some policies in some specific industries for environmental protection purposes, he said.
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