China pledges to expand imports
Beijing, China – China plans to increase imports this year to share the business opportunities arising from its ultra-large market with the world, Commerce Minister Wang Wentao said.
"We will expand the imports of high-quality consumer goods, advanced technologies, important equipment, key components, energy and other resources, and agricultural products in short supply in China," Wang told a press conference in Beijing.
China will move to diversify import channels and streamline the process of importing, he added.
The country will continue to host the China Import and Export Fair, the China International Fair for Trade in Services and the China International Import Expo, support Chinese enterprises in attending exhibitions abroad, and further facilitate cross-border trips for businesspeople to create opportunities for face-toface communication, Wang said.
In April 2023, the State Council issued a guideline on stabilising the scale of foreign trade and optimising its structure, which has produced positive results, according to the official.
While continuing to ensure the implementation of the guideline, the Ministry of Commerce is now considering additional measures in this regard and trying to roll them out as soon as possible to complement the existing policies, Wang said.
Meanwhile, China's international trade in goods and services totalled 4.34tn yuan ($610.6bn) in December 2023, up 2% year on year, official data showed Friday.
Exports of goods came in at 2.06tn yuan and imports hit 1.65tn yuan, resulting in a surplus of 409.9bn yuan, the State Administration of Foreign Exchange said.
Services exports totalled 228bn yuan last month, while services imports hit 407.6bn yuan, resulting in a trade deficit of 179.6bn yuan, according to the administration.
Tourism was the biggest services trade contributor, with a 171.1bn-yuan trade volume, the data showed.