Im­ports fall sharply in first 10 months

China Daily (Canada) - - NEWS CAPSULE -

Trade spe­cial­ists called for more ef­fec­tive mea­sures to boost China’s do­mes­tic mar­ket and im­ports. fol­low­ing a sharp down­turn in im­ports in the first 10 months of the year.

Im­ports from Jan­uary to Oc­to­ber fell by 15.2 per­cent year-on-year to 8.47 tril­lion yuan ($1.33 tril­lion), while Chi­nese tourists’ over­seas consumption grew at an an­nual rate of 25 per­cent from 2005 to last year.

Ac­cord­ing to the Gen­eral Ad­min­is­tra­tion of Cus­toms, China’s to­tal for­eign trade im­ports and ex­ports fell by 9 per­cent year- on- year to 2.06 tril­lion yuan in Oc­to­ber, com­pared with a con­trac­tion of 8.8 per­cent the pre­vi­ous month.

It was the eighth con­sec­u­tive month that trade had de­clined in the coun­try. The trade sur­plus widened by 75.3 per­cent to 2.99 tril­lion yuan, be­cause of par­tic­u­larly weak im­ports.

The ex­perts called for more ef­fec­tive mea­sures to boost the do­mes­tic mar­ket and China’s im­ports.

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