Export Prices Rose And Import Prices Dropped &Nbsp; In July, The Expansion Of The Surplus Was Contingent.

Shen Danyang, deputy director of the Secretary for international trade negotiations and deputy director of the general office of the Ministry of Commerce, and new news spokesman, today, at the press conference of the Ministry of Commerce, said that the expansion of China's trade surplus in July was accidental.

Data released by Customs General Administration showed that in July Balance of trade surplus For $24 billion 360 million, the figure is above the median market value of $22 billion 500 million. Exports grew by 34.2% compared to the same period last year, and imports increased by 26.9% over the same period last year. As export growth accelerated, the trade surplus expanded to $31 billion 484 million in July, the highest monthly level since February 2009. The trade surplus in June was US $22 billion 300 million.

Shen Danyang said: "the reason for the surplus in July is that China's exports to emerging markets and developing countries such as Brazil and Russia have maintained relatively rapid growth, and prices are rising rapidly. Two, in July, there was a pullback in commodity prices in the international market, and the corresponding increase in import prices fell. Just this rise and fall to a piece, there is a certain contingency. According to the Ministry of Commerce statistics, the average price of China's exports rose by 9.2% in July, down 1.2 percentage points, and the average price of imports rose by 14.7% in July, and the growth rate dropped three months in a row.

Shen Danyang said that China's trade surplus should not be focused on only one month. data From the absolute scale and relative scale, China's trade surplus is declining.

First, look at the absolute degree of trade surplus reduction, or absolute scale. Since the financial crisis, the absolute size of China's trade surplus has been decreasing year by year, from nearly $300 billion in 2008 to about $180 billion in 2010. China's imports and exports increased by 25% from 1 to July this year, while the surplus expanded by 8.7%. The decrease from 1 to June was more than 20%. Even if it was not particularly normal in July, the surplus from 1 to July still dropped by 8.7%. Further pushing forward, from 2005 to the present, the absolute size of the trade surplus is decreasing year by year.

The two is relative scale, that is, trade surplus. Gross domestic product The specific gravity. In recent years, the proportion of China's trade surplus in GDP has been decreasing year by year. In 2008, it was 6.7%, which dropped to 2.2% in the first half of last year. This year, it dropped by 0.7 percentage points compared with the first half of last year, only 1.44%.

Shen Danyang expects that China's trade surplus will further decline this year. He said that the Ministry of Commerce will actively expand imports of advanced technology, key components and scarce resources, and constantly improve import promotion policies and trade facilitation measures to further promote trade balance.

"It should be said that reducing trade surplus is not a reduction. foreign exchange reserve The only way we need to be multi pronged. Shen Danyang said that the trade surplus is only a factor in the increase of foreign exchange reserves, rather than the only factor, and the impact of the trade surplus on foreign exchange reserves is declining.

With regard to the policy tendency of the Ministry of Commerce, Shen Danyang said that according to the current international and domestic economic situation and the requirements of enterprises, we should continue to adhere to the principle of "steady export, adjust the structure and promote balance", and maintain the stability and continuity of foreign trade policies.