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Forecast shows complex export trade frictions in 2007

31
Jan '07
After trade surplus once again set a record high in 2006, official forecasts shows that the situation of China's export trade frictions in 2007 will be more complicated and more difficult for domestic enterprises to deal with.

In 2006, China's total import and export volume was about US $1.76 trillion, representing an increase of 23.8 percent over the previous year, trade surplus reached $177.5 billion, rewriting the historical record.

Facing the non-relaxed external environment, Chinese government announced today that textile industry, which accounts for 15 percent of the national exports, would accelerate structural adjustment.

Last year, China established 'the textile industrial restructuring and growth mode transformation funds' with 1.36 billion yuan in total. In the '11th Five-Year Plan' period, Chinese government will explore the establishment of a long-term mechanism to help textile industrial restructuring.

After two decades of rapid economic development, China is trying to moderately slow 'developing bell' and devotes more efforts to solve problems, which have emerged in the high-speed development.

Development and Reform Commission said today that in 2007 the state would focus on the task of further shifting economic restructuring and growth mode transformation. And the quality of economic performance will continuously get improved.

Fibre2fashion, News Desk - China


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