A Chinese resources minister said Monday the value of China's
exports and imports of mineral products exceeded US$100 billion
annually in recent years.
Addressing a seminar on China's mineral resources and sustainable
supply, Tian Fengshan, minister of Land and Resources, said that
the trend of diversifying the country's suppliers of mineral
products will continue.
China's entry into the World Trade Organization has made it easier
for it to expand foreign trade in mineral products and to take
advantage of the international market and overseas mineral
resources, said the minister.
However, he noted, China is a big developing country with a
population of about 1.3 billion, and it will not be able to rely
mainly on its own mineral resources for some time to meet the
growing demand.
Moreover, he acknowledged, the country's demand at present
outweighs supply because growing demand has outpaced the growth of
newly discovered mineral resources.
China has been a net importer of petroleum for the ninth
consecutive year and its imports are rising drastically, he
added.
China's reliance on imported iron, copper, manganese, chrome and
other metal mineral resources is growing while the trade deficit
for mineral products is expanding, he added.
( June 11, 2002)