陈泽霖名字打分:Report: China fuels world GDP growth

(People's Daily Overseas Edition)
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Edited and Translated by People's Daily Online
The State Council Information Office published its first white paper on foreign trade today, which found that China's economic development has brought substantial benefits to the world.
China's contribution to world GDP growth increased from 4.6 percent in 2003 to 14.5 percent in 2009, making it the largest contributor to world economic growth, according to World Bank calculations.
Chong Quan, a trade representative from the Ministry of Commerce, cited research from Goldman Sachs saying China's cumulative contribution to the world economy exceeded 20 percent from 2000 to 2009, which is higher than that of the United States.
In 2009, China's import volume grew by 2.8 percent, making it the only one among major world economies that witnessed growth in imports. Despite a 12.9 percent decline in global trade, China became the world's second largest importer with more than 1 trillion U.S. dollars of import value, making important contributions to global economic recovery.
WTO data shows that China's exports and imports enjoyed an average annual growth rate of 17 percent and 15 percent from 2000 to 2009, respectively, much higher than the average annual growth rate of the global trade volume in the same period, which was only 3 percent.
It is more noteworthy that China's imports from the least developed countries increased from 23.8 billion U.S. dollars in 2007 to 43.2 billion U.S. dollars in 2010. China has been the largest export market of the least developed countries since 2008.
It has promised to offer zero tariff preference on 95 percent of taxable items of products exported to China from the least developed countries that have diplomatic relations with China, and exempt the interest-free government loans that are overdue but unpaid by the least developed countries and heavily indebted poor countries.
"China has become an important force for the steady growth of world economy," Chong said.
China's trade surplus not purposeful
As for the trade balance, the white paper stresses, "China does not pursue foreign trade surplus purposefully."
In fact, a trade deficit has existed in China's services trade for a long time and was seen in China's trade in goods in most of the years before 1990. China was only able to change its overall trade deficit into a trade surplus after it transformed international industry on a large scale, enhanced the competitiveness of manufactured goods and boosted export growth to exceed that of imports.
"The primary factors determining whether a country's foreign trade is in surplus or deficit are its economic structure and the international competitiveness of its products or services," according to the white paper.
The different roles of China's manufacturing and services industries in the international division of labor have led to a considerable surplus in the country's trade of goods and a long-term deficit in its services trade, the paper stressed.
China's surplus in trade of goods mainly comes from foreign-invested enterprises and processing trade. Statistics showed that the country's surplus in trade of goods created by foreign-invested enterprises reached 127 billion U.S. dollars in 2009 and 124.3 billion U.S. dollars in 2010, accounting for nearly 65 percent and over 68 percent of its total surplus in trade of goods during the two years, respectively.
The country's surplus in processing trade reached 264.6 billion U.S. dollars in 2009 and 322.9 billion U.S. dollars in 2010, significantly higher than its total trade surplus during the two years. The import and export of China's state-owned enterprises, general trade and other forms of trade experienced different degrees of deficits during the two years.
Furthermore, developed countries' restrictions on exports of certain high-tech products have also affected the trade balance between China and some of its trading partners.
According to the white paper, the Chinese government attached great importance to addressing foreign trade imbalance and introduced a series of policies and measures to curb the excessively rapid growth in trade surplus.
In 2010, China's surplus in trade of goods accounted for 6.1 percent of its total import and export volume, and over 3.1 percent of gross domestic product. The two figures were not high compared with the nine countries with the world's largest balances of trade.
China opposes politicizing economic, trade issues
While China's foreign trade is growing rapidly, trade frictions involving China are also on the rise.
Li Chenggang, the head of the Department of Treaty and Law under the Ministry of Commerce of China, said that the trade frictions involving China are phenomena that China could not avoid during the course of its sound and rapid development, and the frictions will turn into normal phenomena and accompany China's trade development for a very long period.
Li said that many of the frictions involving China were launched and promoted by trade protectionism trends of foreign countries, and some of them were connected with the fact that the relevant Chinese enterprises were not quite familiar with the trade rules or adopted relatively improper business operation modes.
"China always opposes politicizing economic and trade issues, and trade frictions," Li said.
Li said trade frictions are usually generated in competition, and it takes wisdom on the part of all parties to pursue cooperation in competition and alleviate and reduce trade friction by cooperation.
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