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China’s 2011 trade surplus may drop to $100b 


Source: Xinhua

 


China‘s trade surplus may drop to around $100 billion in 2011, the China Securities Journal quoted a central bank advisor as saying in a Monday report.

 

Li Daokui, a member of the monetary policy committee of the People’s Bank of China, the country‘s central bank, made the remarks at the 3rd International Business Development Forum held in Beijing on May 14, according to the report.

 

Li said in the report that the country’s trade surplus is likely to decrease to $120 billion or even $100 billion by the end of the year, compared with 2010‘s trade surplus of $180 billion.

 

Li said that he expects the proportion of China's trade surplus to its gross domestic product (GDP) to drop below 2 percent this year and suggested that the government should make an effort to reduce the ratio, according to the report.

 

China's trade surplus rose to $11.43 billion in April after registering a trade deficit of $1.02 billion from January to March this year, the first quarterly trade deficit in six years, according to the General Administration of Customs.

 
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