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Private sector leads foreign trade boom

11-11-2010 08:59 BJT Special Report:China’s Economic Data for Oct. |

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New figures show China's foreign trade expanded significantly from January to October this year. Official data from the General Administration of Customs, shows the private sector has been a big contributor.

China's exports and imports in the first 10 months rose more than 36 percent year on year, to nearly 2.4 trillion US dollars. That exceeds last year's total.

China's trade with its major partners, the EU, US, and Japan saw growth rates of around 30 percent, from a year earlier during the same period.

Private enterprises have been a major force behind the boom. Exports and imports in the first ten months totaled more than 594 billion dollars, accounting for nearly a quarter of the country's total amount and outperforming State-owned enterprises

Zheng Yuesheng, Official of General Admin. of Customs said "As most foreign trade enterprises are small and flexible, they can adapt well to the changes on the overseas market. The recent rapid growth of private enterprises is also due to the recovering global economy, as well as the government's measures to lift burdens on them."

The data also shows China's trade surplus totaled more than 147.7 billion US dollars during the same period, down 6.7 percent from a year earlier.

Editor:Xiong Qu |Source: CNTV.CN

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