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China's surplus this year is around $180 billion - the Ministry of Commerce
Reuters, Beijing, November 6th - China's Vice Minister of Commerce Zhong Shan said on Saturday that China's foreign trade surplus will reach about 180 billion US dollars this year, and the growth rate has been declining. In the next step, we will continue to seek a balance of trade structure. He emphasized at the first Caixin Summit that to solve China's trade imbalances, it is necessary to expand foreign trade, pay more attention to internal trade, and pay attention to the imbalance of China's trade structure. There are still many problems in China's foreign trade development, including extensive management, winning by quantity, unbalanced development, uncoordinated and unsustainable. "He said, "China must seek trade balance in the next step." Zhong Shan pointed out that China's foreign trade is not balanced. The performance in the European, American and Japanese markets is too large, about 46%; the proportion of processing trade is too large, currently accounting for 47%; and the proportion of goods trade accounts for 88% of the total export trade; the region also has imbalances, now the coast 10 provinces and cities accounted for 91% of the country's foreign trade. He also said that China's foreign trade itself has problems, the added value of export commodities is low, the proportion of high-tech products is low, and the proportion of independent brands is low; foreign trade The international premium and pricing power is weak; the mode of foreign trade operation is still relatively backward. He pointed out that the world is now accusing China of trade imbalances. In fact, China’s current trade surplus is constantly Small. At the same time, a large proportion of China's service trade deficit. Moreover, China's current trade surplus, general trade is already a deficit, and the surplus is mainly contributed by processing trade. "Western countries accuse us of too much trade surplus. In fact, our main trade surplus comes from processing trade." He pointed out that China should strengthen its general trade, upgrade its processing trade, and develop other forms of trade. China surpassed Germany in 2009 and became the world's largest exporter, accounting for 9.6% of the world's global international trade. The first three quarters of this year. China’s trade surplus is nearly $121 billion.