China to see narrowing trade surplus
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E-mail Xinhua, March 15, 2012
China will maintain a trade surplus this year, although the surplus will continue to narrow, the Ministry of Commerce (MOC) said Thursday.
The ratio of China's trade surplus to its gross domestic product will continue to fall in 2012, and China's foreign trade will become more balanced, MOC spokesman Shen Danyang said at a regular press briefing.
China reported a trade deficit of 31.49 billion U.S. dollars in February, the largest monthly trade deficit in more than a decade.
Shen said the deficit was caused mainly by seasonal factors, as domestic foreign trade companies tend to increase imports after the Spring Festival holiday.
"The first two months' trade data cannot reflect the trend for the year. The ministry will adopt measures to ensure stable foreign trade," Shen said.
China's trade deficit stood at 4.15 billion U.S. dollars during the first two months of 2012.
