China June Trade Surplus Renews Currency Pressure
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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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China's trade surplus soared to a record $26.9 billion in June, exceeding economists' estimates and supplying ammunition for US lawmakers threatening sanctions unless the yuan appreciates faster.
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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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HAMBURG, Germany  - The European Union urged China on Monday to open its markets to help redress a "huge" trade surplus with the bloc and called on it to ratify a key rights covenant.
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South Korea's trade surplus hits a record level in June, making an interest rate rise more likely at next week's policy meeting.
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China on Wednesday raised the proportion of deposits that banks must hold in reserve for the eleventh time since the start of 2007, extending a long-running campaign to mop up excess cash in the banking system.
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China&#39;s domestic demand remains strong but underlying inflationary pressures are limited. This reduces the possibility of further drastic macroeconomic measures to cool down the
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As the two sides prepare for an economic summit, the focus is on what to do about China's persistent trade surplus
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China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened yen was hurting other economies.
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U.S. lawmakers have resurrected a petition seeking a formal investigation of China's currency policy, in a challenge of the Bush administration's handling of trade relations with Beijing.
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China's trade surplus will reach $250-300 billion in 2007, driven by the country's price competitiveness and strong external demand, the top economic planner said on Tuesday.
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China has seen its trade surplus hit $22.4bn in May from a year earlier, according to official data.
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U S Treasury Secretary Henry Paulson confronted mixed signals as he arrived in China yesterday for trade talks, with Beijing disclosing a renewed crackdown on pirated goods but also running up a record trade surplus with the United States.
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China&#39;s total trade volume will reach 1.1 trillion US dollars in 2004 -- up 30 percent over 2003 --with a trade surplus of about 10 billion US dollars, said Assistant Minister of Commerce Yi Xiaozhun.
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G7 leaders renew pressure on China to relax controls over its yuan currency, at the end of their meeting in Germany.
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Surging exports helped push China's trade surplus to a six-year high of &#36;31.98 billion in 2004, the government reported Tuesday.
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JapanÂs trade surplus was sharply higher in August compared with a year earlier as companies shipped more cars and steel to global markets. The trade surplus widened 95.5 percent, to 200.5 billion yen ($1.71 billion) as exports to the United States grew 19.3 percent and sales to China expanded 20 percent, government data showed. The value of exports of automobiles to the United States rose 49.3 percent from a year earlier, the fastest pace since January 1997.