China's trade surplus is expected to reach US$120-130 billion this year, the official China Securities Journal reported, citing Bi Shengquan, vice director of the National Development and Reform Commission (NDRC).

Bi recommended that adjustments be made to the country's export rebates and resource tax policies in order to reduce the size of the surplus.

Last Friday, Zhai Zhihong, an official at the Trade and External Economic Relations Statistics department of the National Bureau Statistics (NBS), said that China's trade surplus may exceed US$100 billion this year.

For the first five months the surplus grew 41 percent year-on-year to US$46.79 billion, with a record monthly trade surplus of 13.0 bln usd recorded in May.

(For more biz stories, please visit Industry Updates)