Minister: China not worried by surging imports
( 2003-07-24 22:50) (Xinhua)
The Chinese Minister of Commerce Lu Fuyuan said in Dalian Thursday China is
not worried about the double- digit surge in imports during the first half of
2003, and might even increase imports, if necessary.
Addressing a press conference following the closure of the fifth Economic
Ministers' Meeting (EMM5) of the Asia-Europe Meeting (ASEM) in Dalian northeast
China's Liaoning Province, Lu attributed the surge to the growing Chinese
economy, noting that the severe acute respiratory syndrome (SARS) epidemic had
had no major effect on the economy.
The rapidly-expanding economy needs to import large amounts of raw materials
and parts, he said, adding that imports couldn't register such high growth
without sound economic growth.
China has fulfilled its World Trade Organization (WTO) commitments and
reduced tariffs markedly, he said. The high price of oil due to the Iraqi war
also contributed to the increase in import volume, he said.
"We are not worried by the increase in imports," Lu said, as China's rich
foreign currency reserves provide flexibility in terms of increasing exports, if
necessary.
|
