China maintains reasonable trade surplus
Updated: 2013-03-08 16:59
Minister of Commerce Chen Deming gestures during a press conference held on the sidelines of the ongoing national legislature in Beijing, March 8, 2013. [Photo / Asianewsphoto / Jiang Dong]
BEIJING-- China has managed to keep its trade surplus at 3 percent of its GDP for the last two years, a reasonable level by international standards, Minister of Commerce Chen Deming said Friday.
The surplus once stood at about 6 percent of the GDP at its highest point, Chen said at a press conference held on the sidelines of the ongoing annual session of the National People's Congress, China's national legislature
The total volume of foreign trade soared to $3.87 trillion in 2012, compared with $2.2 trillion five years ago. It accounted for 11.1 percent of global trade volume in 2012, from 8.8 percent five years ago, .
China brought in more than $110 billion in foreign investment annually over the last three years. The funds were mainly used to increase investment in central and west China cities, as well as within the service sector.
China's overseas investment had increased rapidly to $77.2 billion as of the end of 2012, making China the fifth-largest capital-exporting country.
"This year, we will maintain growth momentum in capital exports," Chen said.