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China follows a trade policy of balance in import and export, and does not seek trade surplus. Its current account surplus to GDP ratio has dropped from the peak of 10% in 2007 to 1.8% last year. And in the first quarter of this year, it was only 0.7%, lower than that of many EU countries. China stands ready to work for the launch of a joint feasibility study for a China-EU free trade area as early as possible, further improve trade liberalization and facilitation, and create favorable conditions for competitive European products to enter the Chinese market. We also hope the EU will loosen restrictions over hi-tech exports to China, exercise restraint in the use of trade remedies, and promote the balanced growth of two-way trade.

China has not only boosted world economic recovery and growth since its accession to the World Trade Organization, but also accelerated its reform and opening-up process and economic growth, according to a government document released Thursday.

China has announced measures to cut the social insurance contribution of businesses as part of its efforts to reduce the burden of companies and boost market vitality.

China has become the country's second-largest source of imports, and according to China's customs data, annual bilateral trade reached .87 billion last year.

China assuming a leading role