On January 15, Commerce Minister Bo Xilai revealed at the national commercial working conference that excessive trade surplus is affecting balance of domestic economy and it is not conducive for the development of foreign trade and economic cooperation.
He also told that reduction of trade surplus will be top priority of the Government during this year.
Government will take necessary measures to reduce trade surplus such as evaluation of trade policy, increasing social responsibility of the companies, reduction of exports and to expand imports of advanced technologies and equipments for domestic needs.
Due to increase in exports, natural resources of the country are decreasing, effecting domestic requirements.
In recent years, China's trade surplus is expanding rapidly. The consecutive expansion of trade surplus has already become a prominent problem to domestic economy.
Trade surplus with United States and the EU continues to expand, resulting in economic uncertainties in China's foreign trade.
Fibre2fashion.com News Desk-China
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