It takes some time for China to gradually address its trade
imbalance on the international market, Chinese top banker Zhou
Xiaochuan said Monday.
China has taken a number of measures helpful to boosting import,
such as adjusting foreign exchange rate and importing a great deal
of raw materials, said Zhou, governor of the People's Bank of
China, the central bank.
The factors of rising production cost, increasing labor payment
and improving social security are in a whole exerting impact on
China's import and export balance, Zhou told a press conference
held on the sidelines of the annual session of the National
People's Congress (NPC), China's top legislature.
Buoyant domestic investment and foreign direct investment in
China have helped raise production capacity and boost export, said
Zhou, adding the trade surplus depends on domestic demand and
international demand for Chinese products.
"Both export and import are growing. We have to see which one
runs faster," Zhou said.
(Xinhua News Agency March 12, 2007)