Economy

China sees import expansion as long-term strategy

(Xinhua)
Updated: 2011-06-15 16:15

BEIJING - Increasing imports is not a temporary measure for China, but a long-term macro-economic strategy, Yao Jian, spokesman for the Ministry of Commerce, said on Wednesday.

Related readings:  China to boost imports despite trade deficit  Imported goods trade set to rise  Chinese vice-premier urges balanced trade  Inflation remains key risk to economy

Yao stressed the importance of import expansion in balancing China's economy during a press conference held in Beijing.

The government will continue to create favorable trade, tax and financing policies to boost imports, Yao said, adding that the measures taken by the country have caused import growth to outpace export growth over the last 17 months.

China's imports grew by 29.4 percent year-on-year during the first five months of this year, compared with a 25.5 percent increase in exports. The country's trade surplus dropped 35.1 percent year-on-year to reach $22.97 billion during the same period.