Strong trade growth continues in 2002

1 March 2002

China's foreign trade totalled US$40.67bn in January, up 25.7 per cent on the same month last year. Exports surged by 29.2 per cent to US$21.7bn to give a trade surplus of US$2.73bn, according to Chinese customs.

Comparisons with 2001 are distorted by the fact that last year's week-long Spring Festival holiday began on January 24. According to experts cited by Shanghai Daily, the true rate of trade growth would have been about 10 per cent.

In 2001, trade between the mainland and Taiwan rose 5.9 per cent year-on-year. The mainland exported goods worth US$5bn and imported goods worth US$27.34bn.

China is hoping to record textile exports of US$55bn in 2002, a 3 per cent increase on last year when they made up 20 per cent of the nation's overseas sales, said China Daily.