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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (6327)	8/26/2006 7:34:36 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China says will reduce trade surplus by opening market further to poorer nations 08.24.2006, 06:17 AM forbes.com KUALA LUMPUR (XFN-ASIA) - China will reduce its trade surplus by providing a more open marketplace for goods from developing countries, a top official said. 'We try to provide more market access and opportunities for the least-developing countries and other developing countries,' China's vice commerce minister Yi Xiao Zhun said when asked to comment on China's trade surplus with the United States. 'We try to encourage our entrepreneurs to invest overseas,' he told reporters. Yi said China is confident the issue of its large trade surplus can be resolved. 'In the long run, we will more or less balance trade with the rest of the world,' he said on the sidelines of a regional economic meeting. Washington is seriously concerned over China's enormous trade surplus with the US, which hit a record 201 bln usd last year according to US statistics. The surplus has fueled accusations in Washington over unfair trade practices by China, including efforts to hold the yuan artificially low to boost exports. The US has also repeatedly criticized China for failing to protect intellectual property rights (IPR) and fully open its markets. But Yi said it is impossible to secure a balance trade between two countries. 'You cannot seek the balance between two countries because that is the reality of international trade,' he said. However, he said China is committed to trade liberalization. 'We believe in trade liberalization and we believe in free trade,' he said.