Exports rose 35.3 percent year-on-year in the first nine months
to US$416.2 billion, while imports surged 38.2 percent to US$412.3
billion. China's trade surplus for the year so far now stands at
just under US$4 billion, according to the General Administration of
Customs.
At the end of the first four months of the year, the country was
running a trade deficit of US$11.0 billion, but five consecutive
monthly surpluses helped to swing foreign trade back to a small
surplus for the overall period.
September export growth slowed from August's figure, but still
climbed 33.1 percent to US$55.8 billion. Exports jumped 46.5
percent in June, 33.9 percent in July and 37.5 percent in
August.
Imports were also strong in September, advancing 22.1 percent to
US$50.8 billion.
The country posted its largest monthly trade surplus of 2004 --
US$4.9 billion -- in September.
Analysts forecast a small trade surplus for the full year, with
continued strong growth in both exports and imports.
Meanwhile, foreign direct investment surged in September,
reflecting foreign investors' confidence in the soft landing of the
Chinese economy.
The nation registered actual foreign direct investment (FDI) of
US$48.7 billion for the first nine months of 2004, up 21.0 percent
year-on-year, according to the Ministry of Commerce.
Contracted direct investment, an indicator of future trends,
rose 35.6 percent to US$107.4 billion for the period.
The ministry said China approved 32,279 new foreign-invested
ventures in the first nine months of 2004, up 9.3 percent
year-on-year.
The ministry did not provide specific data for the month of
September. Based on calculations using official information, actual
FDI in September was US$5.1 billion, up 44 percent
year-on-year.
The growth rate of actual FDI remained in the fast lane, at 46
percent in July and 55 percent in August. The effects of last
year's SARS epidemic pushed actual FDI growth into negative
territory from July through September 2003.
The World Investment Report 2004, released late last month by
the United Nations Conference on Trade and Development, predicted
foreign direct investment in China will reach US$60 billion this
year, compared with US$53.5 billion in 2003.
(China Daily October 15, 2004)