Rebalancing trade growth

The rare monthly trade deficit China registered last month is unlikely to reverse the considerably long-term trend of it being a trade surplus country.

Yet, while playing down the shock of the first trade deficit in the past 70 months, policymakers need to prepare for a long-term change in the country's trade balance as domestic consumption gradually develops into a leading engine of growth.

Statistics from the General Administration of Customs confirmed early reports that China's trade balance turned red in March, resulting in a trade deficit of $7.2 billion.