Economy

China faces serious trade disputes

(Xinhua)
Updated: 2011-01-26 22:16

BEIJING - China remained a major victim of trade protectionism during the past year, witnessing 64 trade disputes in this period, covering some $7 billion in value, China's Vice Commerce Minister, Zhong Shan, said here Wednesday.

Related readings:  China urged to prepare for trade sanctions  Overseas direct investment to grow  Trade volume surges despite protectionism  Trade frictions dent China's high-tech exports

The country faced trade disputes with both developed countries and  developing ones, which came from not only traditional sectors but also high-tech industries, he told a national conference on trade promotion.

For the short- and mid-term, China would work to maintain a stable growth in foreign trade and keep the growth rate higher than both the global level and China's economic growth, he said.

China would also strive to achieve a more balanced trade structure by boosting imports and outbound investment, to strengthen the quality and efficiency of foreign trade, he added.

China's foreign trade last year jumped 34.7 percent year on year to more than $2.97 trillion, while its trade surplus fell 6.4 percent to $183.1 billion.