China's trade surplus to hit $190B in 2007 - report

时间：2007-01-06 01:12:03

（单词翻译:单击）

Jan.5 - China's trade surplus may surge to a record new high of around US$190 billion this year despite government efforts to curb1 exports and encourage imports, the Chinese Academy of Sciences predicted in its latest analytical2 report.

 

If these projections4 came true, China would overtake Saudi Arabia and Russia to have the world's second largest trade surplus after Germany, said the report.

 

The government think tank said last year's trade surplus would grow 66.4 percent from a year earlier to US$169.4 billion, about US$1.9 billion higher than the Ministry5 of Commerce's official projection3 of US$167.5 billion.

 

It also predicted that the year's imports and exports would reach US$2.137 trillion, up 21.6 percent or US$137 billion from the figure forecast by the Ministry of Commerce in December.

 

The forecasts show the size of the challenge facing China in dealing6 with its rocketing trade surplus. The government hopes to keep the country's annual foreign trade growth at 10 percent in the next five years and to balance imports and exports by 2010.

 

But robust7 market demand and the global transfer of industry which has turned China into the world's factory are powerful engines boosting the country's exports.

 

"This year, the trade surplus with the United States and the European Union will grow even faster to hit US$178.2 billion and US$133.1 billion respectively," said the report.

 

"With its surplus expanding exponentially, China will face more trade disputes this year. The focus of friction8 will shift from clothing, textiles and shoes to electro-machinery products, steel and chemical products," it said.

 

Textile and clothing exports might slow slightly as a result of trade protection and barriers, it noted9.

 

Exports of higher value-added electro-machinery products would post a surplus of 118.1 billion U.S. dollars in 2006, up 54.2 percent from 2005, and US$185.2 billion this year, up 56.9 percent year-on-year.

 

High-tech10 product exports would register a surplus of US$34 billion in 2006, up 67.2 percent on a year earlier, and US$80 billion this year, up 131.2 percent from 2006, said the report.

 

The government has deployed11 a battery of policy and tax incentives12 to facilitate exports of electro-machinery and high-tech products to alleviate13 trade frictions14 caused by cheap lower value-added exports.

 

The report argued, however, that the positive effects of such measures would not show up immediately because the real cure was to ensure domestic companies acquire key production technologies.

 

About 90 percent of China's exports of information technology products are made by foreign-invested companies, blowing out China's export figures but bringing little value in terms of advanced technology, it said.

 
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1 curb LmRyy     
n.场外证券市场，场外交易；vt.制止，抑制
参考例句：
  • I could not curb my anger.我按捺不住我的愤怒。
  • You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。
2 analytical lLMyS     
adj.分析的；用分析法的
参考例句：
  • I have an analytical approach to every survey.对每项调查我都采用分析方法。
  • As a result,analytical data obtained by analysts were often in disagreement.结果各个分析家所得的分析数据常常不一致。
3 projection 9Rzxu     
n.发射，计划，突出部分
参考例句：
  • Projection takes place with a minimum of awareness or conscious control.投射在最少的知觉或意识控制下发生。
  • The projection of increases in number of house-holds is correct.对户数增加的推算是正确的。
4 projections 7275a1e8ba6325ecfc03ebb61a4b9192     
预测( projection的名词复数 )； 投影； 投掷； 突起物
参考例句：
  • Their sales projections are a total thumbsuck. 他们的销售量预测纯属估计。
  • The council has revised its projections of funding requirements upwards. 地方议会调高了对资金需求的预测。
5 ministry kD5x2     
n.(政府的)部；牧师
参考例句：
  • They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
  • We probed the Air Ministry statements.我们调查了空军部的记录。
6 dealing NvjzWP     
n.经商方法，待人态度
参考例句：
  • This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
  • His fair dealing earned our confidence.他的诚实的行为获得我们的信任。
7 robust FXvx7     
adj.强壮的，强健的，粗野的，需要体力的，浓的
参考例句：
  • She is too tall and robust.她个子太高，身体太壮。
  • China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道，中国希望保持经济强势增长，以减少贫困和失业状况。
8 friction JQMzr     
n.摩擦，摩擦力
参考例句：
  • When Joan returned to work,the friction between them increased.琼回来工作后，他们之间的摩擦加剧了。
  • Friction acts on moving bodies and brings them to a stop.摩擦力作用于运动着的物体，并使其停止。
9 noted 5n4zXc     
adj.著名的，知名的
参考例句：
  • The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
  • Jim is noted for arriving late for work.吉姆上班迟到出了名。
10 high-tech high-tech     
adj.高科技的
参考例句：
  • The economy is in the upswing which makes high-tech services in more demand too.经济在蓬勃发展，这就使对高科技服务的需求量也在加大。
  • The quest of a cure for disease with high-tech has never ceased. 人们希望运用高科技治疗疾病的追求从未停止过。
11 deployed 4ceaf19fb3d0a70e329fcd3777bb05ea     
（尤指军事行动）使展开( deploy的过去式和过去分词 )； 施展； 部署； 有效地利用
参考例句：
  • Tanks have been deployed all along the front line. 沿整个前线已部署了坦克。
  • The artillery was deployed to bear on the fort. 火炮是对着那个碉堡部署的。
12 incentives 884481806a10ef3017726acf079e8fa7     
激励某人做某事的事物( incentive的名词复数 )； 刺激； 诱因； 动机
参考例句：
  • tax incentives to encourage savings 鼓励储蓄的税收措施
  • Furthermore, subsidies provide incentives only for investments in equipment. 更有甚者，提供津贴仅是为鼓励增添设备的投资。 来自英汉非文学 - 环境法 - 环境法
13 alleviate ZxEzJ     
v.减轻，缓和，缓解(痛苦等)
参考例句：
  • The doctor gave her an injection to alleviate the pain.医生给她注射以减轻疼痛。
  • Nothing could alleviate his distress.什么都不能减轻他的痛苦。
14 frictions c3b12b9aeb795425cb3a97ab92bf2232     
n.摩擦( friction的名词复数 )；摩擦力；冲突；不和
参考例句：
  • Family frictions can interfere with a child's schoolwork. 家庭中的争吵会影响孩子的学业。 来自《简明英汉词典》
  • As far as we are concerned, these frictions are not of our own making [have been imposed on us]. 就我们来说，这种摩擦是被动式的。 来自《现代汉英综合大词典》

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