News   Politics & Press   Foreign Ministry Spokesperson's Remarks   Visa & Passport   Economy & Trade   Overseas Chinese   Education   Science & Technology   Culture   Important Notice   Contact Us 
  Home > News
China records first monthly trade surplus this year
2004/06/11

       

 

China reversed four consecutive months of trade deficit in May when it posted 2.1 billion US dollars in trade surplus, thanks to the country's efforts to curb excessive investment in the steel and some other sectors as imports of iron ore and steel began to slow down last month, official figures show.

According to figures released Friday by the General Administration of Customs, China's foreign trade totaled 423.84 billion US dollars during the first five months of this year, up 37.1 percent year-on-year.

The country's exports during the five-month period were valued at 207.59 billion US dollars, up 33.4 percent, and imports valued at 216.25 billion US dollars, up 41 percent, leaving a trade deficit of 8.66 billion US dollars.

Foreign trade in May totaled 87.63 billion US dollars, up 34.1 percent, including 44.87 billion US dollars in exports, up 32.8 percent, and 42.77 billion US dollars in imports, up 35.4 percent.

China has moved to curb excessive investment in steel and construction projects since late last year in a bid to prevent the economy from overheating, and to ease the shortage of energy through administrative intervention, monetary and other measures.

Chinese Premier Wen Jiabao said earlier this month that the Chinese government's efforts to cool down overheating sectors has begun to pay off.

 

Suggest to a Friend
  Print