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China to boost services trade

06-01-2011 08:42 BJT

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China is now aiming to boost its services trade to 600 billion US dollars by the end of 2015, with an annual growth rate of more than 10 percent. Qiu Hong, an assistant commerce minister, said the services trade is an important in achieving a new economic growth model for China. And that it will help reduce the dominance of trade in goods.

She added, although China is comparatively late in starting, the country has great potential to develop services. China was the world's largest exporter and second biggest importer in terms of goods in 2010.

But it has lagged behind in the services trade, ranking fourth globally last year. China's services trade volume accounted only 11 percent of the country's total trade, well below the global average of 22 percent. Qiu said it was high time for China to put more emphasis on the services trade, which consumes less energy and creates more jobs.

China is now aiming to boost its services trade to 600 billion US dollars by the end of 2015.

Editor:Shi Jierui |Source: CNTV.CN

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