Economy

Minister: China likely to see trade deficit in March

By Ding Qingfen (chinadaily.com.cn)
Updated: 2010-03-21 10:30
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China is likely to see a trade deficit in March for the first time, Chinese Minister of Commerce Chen Deming said in Beijing Sunday.

Chen made the remarks while delivering a speech at the China Development Forum 2010, running from Saturday to Monday, with a theme of "China and the World Economy: Growth, Restructuring and Cooperation".

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During the first two months of 2010, China's trade surplus fell by 50.4 percent, according to figures from the General Administration of Customs.

The US call for China to appreciate the Chinese currency yuan is "irrational" and will do no good to maintain Sino-US trade balance, Chen noted. The role of yuan's appreciation in promoting trade balance is limited, he added.

China is strongly against trade protectionism as "it might lead to double dip of the global economy", Chen pointed out.

He called on all World Trade Organization members to show sincerity and determination in working together to promote global free flow of products and capital.
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