China trade volume to reach $1.1trillion in 2004
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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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China overtook the United States as Japan's largest trading partner last year, the latest sign of Beijing's rising economic clout and the role that the booming Chinese market plays in boosting the global economy.
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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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The value of goods imported into the United States last year was $763.3 billion more than the value of what was exported.
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Surging exports trigger a rise in China's trade surplus with the rest of the world to a record  $27bn in June.
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: Foreign direct investment in South-East Asian countries almost tripled in the first quarter of 2004, underscoring the region&#39;s attractiveness as a manufacturing base and growing global
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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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China's economy continues to expand at a rapid pace, growing 9.5% in 2004 despite government efforts to take it off the boil.
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Japan&#39;s trade surplus rose by 8.8% in October from a year earlier, to 1.164 trillion yen ($11.32bn; Â£6.02bn). The rise was above market expectations, because of one-off exports of vessels, the Ministry of Finance said.
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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.
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Growth in Chinese industrial output picked up last month, boosted by strong export demand, figures show.
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The Philippines will import almost one million metric tons of rice in 2005 worth 12.6 billion pesos (225 million US dollars) due to insufficient domestic production, alocal newspapers reported Monday.
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[World News]: Beijing, Dec 26 : Chinas foreign trade has zoomed 750 times since the Communist nation was founded 55 years ago, serving as a major engine for the growth of Chinese economy as well as world trade, Commerce Minister Bo Xilai said.
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China saw a moderate rise in consumer inflation in August to 1.3%, with a notable rise in services.
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Oil prices hit a one month-high of $47 a  barrel on Tuesday as China showed no let-up in its strong  import growth and traders worried that U.S. petroleum  inventories had drawn down heavily due to Hurricane Ivan.
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China revised its 2006 economic growth data to a 12-year high of 11.1 percent, from 10.7 percent.
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SAN FRANCISCO, DECEMBER 23: China took centrestage in 2004 as an economic star to reckon with for many years to come. Ravenous for imports, China gulped huge amounts of raw materials, steel, farm produce and more.