China’s foreign trade to top $3 tn
October 28th, 2011 - 4:17 pm ICT by IANSBeijing, Oct 28 (IANS) China’s foreign trade will surpass $3 trillion this year, accounting for 10.5 percent of the world’s total, a senior official said Friday.
This year marked the 10th anniversary of China’s entry to the World Trade Organization, and the country has grown to be the world’s largest exporter and second largest importer, said Liu Mingkang, chief of China Banking Regulatory Commission, at a financial forum.
The country’s ratio of trade surplus to its GDP is expected to fall to lower than 3 percent this year from 7.5 percent in 2007, Xinhua quoted Liu as saying.
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Tags: 10th anniversary, accounting, beijing, china banking regulatory commission, financial forum, gdp, largest exporter, largest importer, liu, trade surplus, trillion, world trade organization, xinhua