March trade surplus drops
11 April 2007
China's trade surplus plunged 38.6% in March from a year earlier to US$6.9 billion, as the government announced efforts to curb exports and soothe angry trading partners. The announcement came after the US announced that it would lodge formal complaints with the World Trade Organization over rampant copyright abuse, AFP reported. Exports last month rose by just 6.9% to US$83.4 billion, with imports up 14.5% at US$76.6 billion. China has been eager to prove it is addressing concerns about its trading policies after its surplus soared 74% to hit a record US$177.5 billion dollars in 2006.