F REIGN TRADE - 中国国际贸易促进委员会

What’s on?
China’s foreign trade structure diversified
China’s trade volume surged in 2010. The development wasn’t only in
quantity, but also in quality — namely structure diversification.
The European Union, the United States and Japan remained
China’s top 3 largest trading partners in 2010.
But trade volumes between China and other emerging economies increased
also. Bilateral trade volumes with BRIC nations — Brazil, Russia and
India — all jumped more than 40 percent. That made India China’s tenth largest
trading partner.
Huang Guohua, Statistics Department Director of General Administration
of Customs said “Trade volume between China and emerging economies
increased faster than that with the traditional market. It indicates that China’s
foreign trade is diversifying, and showing less dependence on the traditional
partners. It’s a good way to reduce risks.”
Data also shows that foreign trade volumes developed dramatically in
China’s middle and western areas last year. Although the southern province of
Guangdong still topped others in the total volume of import and export.
Huang Guohua said “The export volume of middle and western areas
surged over 40 percent year on year in 2010. The speed was 10 percentage
points higher than the country’s total. It indicates that industrial structure has
improved in these areas.”
The import and export volume of private enterprises surged faster than the
country’s average in 2010, with 47 percent year on year growth. Experts say
China’s foreign trade development reduced dependence on foreign-funded enterprises.
(CNTV)
China to continue proactive fiscal policy
China will continue its proactive fiscal policy in 2011 to improve infrastructure
and people’s living standards, said Jia Kang, head of the Research Institute
for Fiscal Science of the Ministry of Finance.
Speaking at the China Textile Round-Table Forum Annual Conference
2011, Jia attributed the policy decision partly to the need to roll out more followup
investment programs for the four-trillion-yuan (607 billion yuan) economic
stimulus program launched by the central government to combat the global
downturn in November 2008.
Further, Jia refuted criticism over China’s continuous building of infra-
structure, saying many regions and cities were still
suffering from inadequate roads or subway systems,
citing Beijing’s severe traffic jams as an example.
“China also needs to make investments in a
nationwide medical insurance system and affordable
housing, to expand domestic consumption and
improve the living standards of the people,” said Jia.
During the annual Central Economic Work
Conference held in December 2010, the central
authorities agreed that the country would continue
its proactive fiscal policy next year, while switching
its monetary policy stance from relatively loose to
prudent.
Jia said China’s fiscal policy, after years of being
“proactive,” would return to “prudent” at some
point of time, when appropriate. “However, it would
be a gradual exit which is not likely to happen in
2011.” (Xinhua)
Chinese home appliance industry
on the “Go global”
To further promote the development of China’s
self-owned brands in the home appliance field, the
Ministry of Industry and Information Technology
Figures
10.3%
China’s economy expanded 10.3
percent in 2010 from a year earlier,
and 9.8 percent year on year in the
fourth quarter of last year, the National
Bureau of Statistics (NBS) said
on Jan. 20. (Xinhua)
34.7%, 6.4%
China’s foreign trade in 2010
jumped 34.7 percent from a year earlier
to $2.97 trillion, with its trade surplus
falling 6.4 percent to $183.1 billion, the
General Administration of Customs
(GAC) said on Jan. 10. (Xinhua)
23.8%
China’s fixed-asset investment rose
23.8 percent year on year in 2010, the
National Bureau of Statistics said at a
press conference on Jan. 20. (Xinhua)
4.6%
China’s consumer price index (CPI),
a main gauge of inf lation, rose 4.6
percent in December year on year, the
National Bureau of Statistics (NBS) announced
on Jan. 20. (Xinhua)
$105b
Foreign direct investment (FDI) into
China hit a record 105.74 billion U.S.
dollars last year, up 17.4 percent year on
2