General Administration of Customs recently released the latest statistics. In 2007, China’s foreign trade surplus was up to 262.2 billion USD and it was the highest point in history. Although the figure is still big but the increase speed decelerates. It shows that the effect of the methods to restrain surplus began to appear.

The customs statistics shows that the export last Dec. increased by 21.7% against the same period of 2006 and import increased by 25.7%. In fact, from last August, increasing degree of export has substantially declined to about 22% from about 30% in the first half of 2007. The mentioned statistics in December illustrates that this trend has been continued. Analyst thinks that the decelerating of Chinese export is the result of the comprehensive influence of USD devaluation, RMB’s increase in value and export tax rebates and other factors.

Growth on export 2008 estimated to be lower than 20%

To this year’s export, it is analyzed t that the US secondary mortgage and loan should not be ignored, which will be even a severe influence to Chinese export of this year. According to estimation of international economy and trade academe of Ministry of Commerce, total import and export of China’s this year is expected to exceed 2,400 billion RMB, with an increase of 15%. It will be the first time after China’s entering WTO that its foreign trade increase is under 20%. █