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E-mail China.org.cn, February 24, 2025
Bloomberg News:
CCTV is reporting that exports rose 7.1% to 25.5 trillion yuan last year, creating a record 7 trillion yuan surplus. Can you confirm those numbers? Why is the growth in exports and imports so different? Are you concerned that this growing, and frankly quite large trade surplus, is creating trade protectionism? And do you think exports and the surplus will grow again this year? Thank you.
Wang Lingjun:
Thank you for your questions. I actually touched on this topic at the press conference on China's import and export performance in the third quarter on Oct. 14 last year. I want to stress a few things: First, China does not pursue a trade surplus. The specific export and import volume and trade gap is caused by comprehensive factors such as the international supply-demand relationship, industrial division of labor and market competition. It is not by design. Second, China's trade surplus as a percentage of GDP is within a reasonable range, significantly lower than its record high, and also lower than some other major exporting countries in the world. Third, some countries abuse export controls and restrict exports to China. We want to import and even want to import more, but you do not let us. Yet, you are overly anxious about the trade surplus. That in itself is a self-contradiction.
Here I would like to add that China has been actively expanding imports. It has held the China International Import Expo (CIIE) for seven consecutive years, unilaterally opened its door wider to other countries, expanded market access in an orderly manner, proactively lowered tariff levels, and continuously set new records for the value of imports. This has allowed more countries and more enterprises to share the opportunities and development achievements of the Chinese market, and has also promoted more balanced development of China's trade.
In response to rising protectionism, the WTO pointed out in its World Trade Report 2024 that rising protectionism will harm the growth prospects of all economies. Regardless of changes in the external environment, China will firmly expand opening up and resolutely oppose trade protectionism. With a renewed commitment to win-win cooperation and the determination to open up and through practical measures, China will build bridges of communication, and share opportunities of development, discuss cooperation and promote development with other countries. Thank you.
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