China's President Hu Jintao has promised to increase imports, in an effort to boost global trade.Speaking on the tenth anniversary of China's entry into the World Trade Organization, Mr Hu said annual imports would exceed $8tn (£5.1tn) in the next five years.Last year, China bought only $1.39tn worth of products from overseas.Global trade has slowed this year as business with Europe, China's largest business partner, moderated. Customs data from Saturday shows the country's exports rose by 14% in November, while imports rose by 22%.With anaemic economic expansion in Europe and America, there is even more pressure on China, the world's second-biggest economy, to boost consumption at home.Mr Hu said on Sunday that Beijing was serious about pursuing balance in its trade policy, adding that it would bring opportunities to countries around the world. "We will view expansion of imports as an important way to change the development mode of foreign trade," he said at a speech at the Great Hall of the People."We will work hard to promote a balanced international balance of payments. We will not deliberately pursue a trade surplus."China's trade surplus, a persistent source of tension with its trading partners, narrowed to $14.5bn last month, from $17bn in October.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:06 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 16:17 2018 Monday ,12 November
Egypt working on 4-year plan to increase growth rateGMT 12:45 2018 Friday ,09 November
Egyptian agriculture products introduced to Japanese markeGMT 11:42 2018 Friday ,02 November
Turkey's new mega airport, boon for slowing economyGMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 monthsGMT 15:13 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 14:46 2018 Thursday ,11 October
Economy and energy dominate agenda in Russian-Slovak relationsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor