China trade surplus to hit $180 bln in 2010 -minister

Published 10/27/2010, 09:11 PM
Updated 10/27/2010, 09:16 PM

BEIJING, Oct 28 (Reuters) - China's trade surplus in 2010 is expected to reach $180 billion, smaller than the $196 billion in 2009, China Trade Minister Chen Deming said in remarks published on Thursday.

As a percentage of Chinese gross domestic product (GDP), the surplus would be no more than 3.38 percent in 2010, below the 4 percent line that Washington had advocated for countries running trade surpluses.

The official projection was much stronger than the previous official estimate of $100 billion made in April.

In a meeting with Chinese exporters and trade officials in Guangzhou, Chen said that China would have to keep strong export growth in 2011 to bolster economic growth, partly because China's stimulus policies will fade out next year, according to the 21st Century Business Herald.

The newspaper reported that Beijing would set a growth target of 10 percent for exports in 2011. (Reporting by Zhou Xin and Ken Wills)

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