China expects brisk foreign trade in 2005 (Xinhua) Updated: 2005-03-07 15:45
China's foreign trade is projected to increase by 15 percent in 2005, with
imports basically equaling exports, says a report on national economic and
social development plan.
"The global economy and global trade are set to keep growing in 2005.
Moreover, China has now lifted all controls over the right to engage in foreign
trade. This should inject new vitality into China's exports and increase export
volume," says the report.
The report on the implementation of the 2004 plan for national economic and
social development and on the 2005 draft plan for national economic and social
development was submitted Saturday for approval to lawmakers attending the
ongoing session of the National People's Congress, the top legislature.
It says the domestic economy will keep growing rapidly, so demand for imports
should also continue to expand.
"The combined volume of imports and exports should continue to increase
rapidly this year but there are quite a few factors that could prevent the
volume from growing as rapidly as last year," the report says.
The main ones are stubbornly high international oil prices and rising prices
for means of production, both of which increase production costs for
enterprises, it says, adding that the export volume has grown considerably in
recent years to a very high level, and international trade friction is
intensifying.
"Setting the target at 15 percent should help push enterprises to accelerate
change in the pattern of their foreign trade growth, improve their import and
export mix, and raise the quality and level of their foreign trade growth," says
the report.
