Ministry of Commerce: surplus is slightly lower than last year

Reporter Hu Jian "Whole year look, the trade surplus will continue to reduce." "November 16, the Ministry of Commerce spokesman Yao Jian at a regular news conference that the October trade surplus growth is larger, the future growth of exports will fall further."　　At the same time, because the import price factor has already appeared, the import may also expand. Customs data show that this year in October, China's trade surplus of 147.77 billion U.S. dollars, the year-on-year decrease of 6.7%.　　But the monthly surplus surged to $27.15 billion trillion last month after a two-month retreat from July to $28.73 billion a year, and the high surplus was a concern. For the October surplus, Yao said, processing trade imports only increased by 18.6%, below the month's 25.3% overall import growth of 6.7%.　　In addition, imports of some commodities have also been reduced by more, leading to a 12.4 billion dollar decline in general trade imports by September.　　But Yao also said the surplus is expected to be smaller this year than it was last year as a result of import inflation, which would lead to an increase in imports and, reflecting future export expectations from weaker external demand and lower imports of processed trade. Commerce Minister Chen Deming recently said that China has been insisting on expanding imports since the financial crisis, more than two years ago.　　This year's trade surplus will be lower than last year's more than 190 billion dollar level. Xiang Finance Securities strategy researcher Wang Tan that in the context of the appreciation of the renminbi, as Chinese goods relative prices rise, competitiveness has declined. But in the import aspect, because the national income rises, the social wealth accumulates, China appears the consumption to upgrade, the domestic consumption potential is very huge.　　And from Europe, the United States, Japan and the new round of stimulus policy, the expansion of exports is an important means, so to relax export control to China, sell more High-tech products are the general trend, the gradual decline in trade surplus will be inevitable phenomenon. China's export growth has been falling for 5 consecutive months, Yao also mentioned that exports are gradually falling back to normal range.