China may surpass Germany as No 2 in world trade

Jan 18 | Updated: Jan 19 2007, 05:30am hrs
China may surpass Germany this year as the worlds second-largest trading country if imports and exports keeping growing at 20% or more a year, said the deputy trade minister.

Our trade surplus is likely to be maintained in the foreseeable future, probably extending into the middle of the century, said vice commerce minister Gao Hucheng, at a press event on Thursday in Beijing. The government will address the economic structure to close the trade gap, he said.

Chinas trade expanded 23.8% last year to $1.76 trillion, the third largest in the world behind Germany and the US, according to Chinese statistics. The countrys trade surplus jumped 74 percent to a record $177.5 billion last year. China will adjust trade policies and boost imports, Gao said.