China’s high trade surplus achieved last year, and the resultant protests from trading partners has led the administration to explore ways to reduce the trade imbalance. Last year, China’s trade surplus stood at US$101.9 billion. The Commerce Ministry’s trade section’s Head, Lu Jianhua, said that the government would encourage firms to import unspecified major products and explore new policies to promote the purchase by Chinese firms, of imported raw materials and natural resources. The Economic Daily quoted Jianhua as saying that China would take steps to increase domestic demand and call upon developed countries like the U.S. and European countries to remove restrictions imposed on Chinese high-tech exports.
