Reflecting the decline in China's trade surplus, net exports in the first half of 2009 subtracted 2.9 percentage points from growth, the report added.

In October, the International Monetary Fund (IMF) forecasted that China's real GDP would increase by 8.5 percent in 2009, up from its April forecast of 6.5 percent growth. The IMF predicted that in 2010 China's economy will grow 9.0 percent and account for28 percent of the anticipated 3.1 percent global growth.

China has managed an economic growth amid dwindling export. The report said China's exports fell by 31 percent between the third quarter of 2008 and the first quarter of 2009, while imports fell 30 percent.

The report observed that in the second quarter of 2009, the country's imports recovered strongly over its stimulus measures. However, exports increased only slightly.

"As a result, China's trade surplus narrowed to a three-year low of 35 billion dollars (3.2 percent of the GDP) in the second quarter. China's current account surplus narrowed to 6.7 percent of the GDP in the first half of 2009, from an 11 percent high in 2007."

Notably, China's trade surplus with the United States in the first half of 2009 fell 13 percent from the same period of 2008, said the report.

As one of the most important countries in the world, China provides a key force in the worldwide coordinated actions against the worst recession since the Great Depression of the 1930s, it said.

"China's overall policies played an important role in anchoring the global economy in 2009 and promoting a reduction in its current account surplus," it added.

It said that the U.S. government will continue to work with China both in the Group of 20 (G20) and their bilateral Strategic and Economic Dialogue to pursue policies that permit greater flexibility of the exchange rate and lead to more sustainable and balanced trade and growth.