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China' domestic market size may reach US$2 trln in 2010
Source :China Knowledge update : 2010-09-09
China's domestic market size may realize US$2 trillion or around RMB 13.56 trillion this year, an amount even exceeding the country's estimated exports, said Chong Quan, China's Deputy International Trade Representative, at a forum on imports and exports.
According to statistics released by the General Administration of Customs, the country's trade surplus for the first seven months of this year declined 21.2% year on year to US$83.93 billion, showing that a narrowing gap occurred between exports and swelling domestic market.
In July, China's trade surplus reached US$28.7 billion, an amount higher than US$20.02 billion in June.
Last year, China had US$286.8 billion in total exports and imports, comprising US$128.6 billion of exports and US$158.2 billion of imports.
Chong Quan added that the fuel domestic market will accelerate China's industrialization and urbanization and that the Chinese government will take measures to cut the barriers of imports.
According to statistics released by the General Administration of Customs, the country's trade surplus for the first seven months of this year declined 21.2% year on year to US$83.93 billion, showing that a narrowing gap occurred between exports and swelling domestic market.
In July, China's trade surplus reached US$28.7 billion, an amount higher than US$20.02 billion in June.
Last year, China had US$286.8 billion in total exports and imports, comprising US$128.6 billion of exports and US$158.2 billion of imports.
Chong Quan added that the fuel domestic market will accelerate China's industrialization and urbanization and that the Chinese government will take measures to cut the barriers of imports.