Daily News header

China to Become World's Largest Exporter By End of Year

By  

On December 16, Minister of Commerce Chen Deming told the official Xinhua News Agency that he expects China's total foreign trade to be larger than 2.9 trillion in U.S. dollars by the end of 1020. (Please note that prices are quoted in U.S. dollars only for comparison sake, China trades with most countries in the world, these numbers are not specific to U.S./China trade.

That is a sharp rebound from the 2009 recession level.

He went on to say that would make China the world's largest exporter and second largest importer of goods and services.

Counting $67 billion of online shopping, China's consumer goods sales will be more than $2.2 trillion this year.

The Minister also told Xinhua that the next five years is a critical time when Chinese companies will be investing overseas and that after that China would strive toward a balance in its import and export payments.

China has taken many steps to spur domestic consumer consumption such as giving subsidies and tax breaks to citizens buying more fuel-efficient vehicles.

John McCormick is a reporter, /science/medical columnist and finance and social commentator, with 17,000+ bylined stories. Contact John through NewsBlaze.

  Please leave a comment here     If it does not display within 10 seconds, please refresh the page

Related Business News

Originator of Alternative Approaches Opens Up in San Antonio
A German manufacturer of ATM and POS solutions - BitXatm - recently announced that it would be installing 1,000 Bitcoin ATM machines across the United States.
4th Annual Christmas in July with a Taste of Tequila for Tampa Bay business owners who partner with Bay Area business associations, organizations to connect to the community.
World homeopathic healing artist, chiropractor to the stars Dr. Richard Bernard is back in Hollywood from world travels to treat those from all walks of life. This story tells more.
Nadine Lajoie's, 'Racing to Success Minute' has been added to the Mind Your Own Business Radio Show on News Talk WLOB 1310am and wlobradio.com.
The Fed's Janet Yellen released a report last week, illustrating her concerns over the substantially stretched valuations on smaller social media, biotechnology firms.

 

NewsBlaze Writers Of The Month



Popular Stories This Month

newsletter logo

NewsBlaze
Copyright © 2004-2014 NewsBlaze Pty. Ltd.
Use of this website is subject to our Terms of Service and Privacy Policy  | DMCA Notice               Press Room   |    Visit NewsBlaze Mobile Site