China plans near-term import boost

Updated 2018-03-28 13:48:02

China is expected to release a guideline to boost imports for the near term in its effort to achieve import-export balance in development, Economic Daily reported Wednesday, citing an official from the Ministry of Commerce.

Gu Xueming, president of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, told the newspaper the U.S. trade deficit with China is a market result of the two countries' economic structure and the world's industrial specialization, and the US statistical method directly leads to overestimates on the deficit.

He also said its restrictions on some items exported to China will expand the gap.

The first China International Import Expo, or CIIE, will be held in Shanghai from Nov 5 to 10 to further optimize the country's trade structure with the rest of the world, the Ministry of Commerce announced last year.

China is likely to import products and services valued at more than trillion over the next five years, providing an opportunity for enterprises across the world to enter the Chinese market, according to the CIIE website.

It is anticipated thousands of enterprises from more than 100 countries will attend the event, bringing up to a million commodities and services to the Chinese market.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58May 24 2018 23:21:31

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16May 24 2018 23:21:31

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18May 24 2018 23:21:31

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords