China's trade surplus overvalued
Updated: 2012-03-08 10:58
(Xinhua)
|
||||||||
BEIJING - Service trade figures were not included in the calculation of China's trade surplus, causing it to become overvalued and creating a distorted picture of the country's foreign trade, a former commerce official said Wednesday.
Incomplete statistics showed that China's service trade sector experienced a deficit of about $60 billion last year, compared with a surplus of $115.1 billion in traded goods, said Ma Xiuhong, former vice minister of commerce.
Ma, who is also a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, urged the government to start including service trade volume in calculations of the country's trade surplus.
The actual surplus would fall below $60 billion after taking the deficit into account, Ma said at a panel discussion of the CPPCC's ongoing annual session.
China's trade surplus has increased trade frictions and put pressure on its economic policies, Ma said.
"The calculation is not only a matter of statistics, but something that affects the trade situation and changes global attitudes," Ma said.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |