"As China is scheduled to launch a new round of tariff reductions with the ASEAN trade bloc, beginning from July 20 in line with the FTA, the bilateral trade volume is expected to witness further increases in the second half of this year," Gao said.
China had a trade surplus of US$39.6 billion in the first half of this year, while the surplus for June alone stood at US$9.7 billion.
China's widening trade surplus has aroused concerns in other countries, in particular the United States.
In fact, the two sides are seeking mutually satisfactory solutions to balance bilateral trade.
The China Council for the Promotion of International Trade recently launched a project with the US Commerce Department in a bid to narrow China's trade surplus with the United States.
Under this project, the two sides will establish agencies in some Chinese cities, which will take responsibility for helping US enterprises look for potential clients in China, as well as providing US businesses with information about China and promoting US exports to China.
The Sub-Council of Textile Industry, CCPIT
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
