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BIZCHINA / Center

Hu: China not to seek large trade surplus

(Xinhua)
Updated: 2007-09-07 16:58

Chinese President Hu Jintao said?in Sydney?Thursday that China does not
seek a large trade surplus and is ready to forge closer business ties
with other APEC member economies and non-APEC countries and regions on
the basis of equality and mutual benefit.

He made the remarks in a speech delivered at the business summit of the
Asia-Pacific Economic Cooperation (APEC) forum, which opened Thursday in
Australia's largest city of Sydney.

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Hu is on a state visit to Australia and will attend the 15th APEC
Economic Leaders' Meeting, scheduled for September 8-9.

China takes an active part in regional economic cooperation and promotes
trade and investment liberalization and facilitation in the Asia-Pacific
region, he told the gathering of APEC business leaders.

China, which has concluded free trade agreements with the Association of
Southeast Asian Nations, Chile and Pakistan, is now holding free trade
negotiations with Australia, New Zealand and Singapore, and conducting
feasibility studies with India and the Republic of Korea on free trade.

The growth of international trade has benefited all countries. China's
enormous domestic demand and vast domestic market are driving its
economic growth, he added.

"China does not seek a large trade surplus," Hu said.

China will continue to transform the pattern of trade growth, increase
import and strengthen protection of intellectual property rights to
ensure coordinated and balanced growth of import and export as well as
contribute to the sustainable growth of global trade, he pledged.

The two-day APEC business summit, an important forum of the APEC
meetings, will focus on trade, market and structural issues as well as
energy, clean development, climate change and education. The theme of the
business summit is "strengthening our community, building a sustainable
future."

(For more biz stories, please visit Industry Updates)

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