China says 2007 trade surplus to exceed $250 bln
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China&#39;s trade surplus will reach  $250-300 billion in 2007, driven by the country&#39;s price  competitiveness and strong external demand, the top economic  planner said on Tuesday.
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China pledged on Monday that 2007 would  be another year of extensive financial reform but said there  was no quick way to bring down its record trade surplus.
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America's trade deficit rose to its second-highest level of the year as the price of imported crude oil jumped and demand for Chinese products remained strong despite recalls of tainted products.
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Trade between China and Africa reached a record $55 billion last year, much of it coming from oil and metals.
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The annual US trade deficit rises to a  record $763.6bn, hit by higher oil prices and surging Chinese imports.
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China had a trade surplus of $85.72  billion in the first five months of 2007, up more than 80  percent from the same period a year before, a commerce ministry  official said on Saturday.
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China said it would introduce export tariffs and increase rates on other items to rein in a record trade surplus and cut energy consumption and pollution.
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The current-account surplus widened at the fastest rate in three years in April as exports rose and a weaker yen increased the value of investments abroad. The surplus expanded 50.3 percent, to 1.99 trillion yen ($16 billion), from a year earlier, as growth in exports to Asia and Europe helped offset a decline in shipments to the United States, the Ministry of Finance said. The trade balance climbed 34.7 percent. Exports climbed 7.3 percent from a year earlier, and imports advanced 3.2 percent.
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With the fast growth of China&#39;s foreign trade after the WTO accession, China has entered a peak period of trade disputes with foreign countries, said officials with the Chinese Ministry of Commerce.
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WASHINGTON -- America's trade deficit rose to its second highest level of the year, reflecting higher prices for foreign oil and a continued appetite for Chinese goods despite this year's recalls of tainted products.
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The politically sensitive Chinese trade surplus surged to a record $26.9 billion in June, potentially heightening tensions with the United States.
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Iran-China trade is expected to reach US$7 billion by the end of this year, the official IRNA news agency reported on Saturday. Ali Hamzeh-Nejad, official of the Iran-China Chamber of Commerce was quoted as
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China's trade surplus has surged to an almost record level in February, official state figures show.
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The huge U.S. current account  deficit widened in the third quarter to a record $225.6  billion, as gushing oil prices and strong demand for Chinese  and other foreign goods pushed imports higher, a U.S. Commerce  Department report showed on Monday.
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Chinaâs trade surplus rose to $26.9 billion in June, showing that demand for the countryâs goods remains strong despite concerns about their safety.
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New export taxes on polluting and energy intensive industries will help reshape how China's economy grows, but alone are not enough to resolve its trade imbalances with the United States, a top Commerce official said on Sunday.
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Chinaâs second quarter growth exceeded forecasts, but the economy faces rising food prices, high energy consumption and a large trade imbalance.