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BEIJING, April 15 (Xinhua) -- The goal of China's foreign trade policy in 2010 was to improve its trade balance while maintaining steady export growth, said the Ministry of Commerce (MOC) spokesman Thursday.The country's trade surplus was expected to shrink by another 100 billion U.S. dollars in 2010, said Yao Jian, the MOC spokesman, at a press conference.The statement came less than a week after the country posted its first monthly trade deficit for March in six years, which was valued at 7.24 billion U.S. dollars, according to the General Administration of Customs (GAC) last Saturday.The GAC said the March deficit mainly stemmed from shrinking exports of labor intensive products, surging imports volumes and rising commodity prices, and predicted the country's trade surplus might continue decrease for the rest of the year.Echoing the GAC, Yao said the country's foreign trade was likely to keep heading toward a more balanced state, while some experts predicted China's trade would soon return to surplus."The trade deficit registered in March demonstrated expanding domestic demand accompanied by lukewarm demand in the international market," Yao said."Because such a situation would continue, the monthly trade deficit seen in March would remain, at least in the first half of 2010," he said.The deficit also proved that, in an era of economic globalization, it was market supply and demand, and other factors that decided trade balance rather than exchange rates, said Yao.Yao portrayed the deficit in March as the continuation of a shrinking trade surplus that started to appear in 2008, and also as a result of the central government's macroeconomic policy in balancing the economy.In recent years, China has worked hard to restructure its economy away from excessive dependence on exports and the manufacturing sector, while a whole range of measures have been taken to expand domestic demand.The goal of China's foreign trade policy was to further balance trade while maintaining stable growth in exports, he said.Yao expected the ratio of China's trade surplus to its gross domestic product (GDP) to fall to 3 to 4 percent from last year's 5.7 percent.When an economy's ratio stays between 5 percent and minus 5 percent, its trade can be considered as more or less balanced, said Yao Jian, citing a commonly accepted standard adopted in the economics field.The conclusion coincides with another set of data provided by the GAC chief Sheng Guangzu in an exclusive interview with Xinhua on Wednesday.Sheng said the ratio of China's trade surplus to its total trade volume declined to 2.3 percent in the first quarter this year from more than 10 percent registered between 2006 and 2008."When the ratio is below 10 percent, it means the country's foreign trade can be deemed as balanced," said Sheng citing an international standard.Sheng also said that China never worked towards having a trade surplus and the country was committed to making its foreign trade more balanced.China's trade surplus would continue to shrink as a result of the country's efforts to restructure and balance its foreign trade, he said, echoing the views of Yao.

BEIJING, April 23 (Xinhua) -- China's trade surplus this year will see a decline from the 2009 level despite a recovery in foreign trade, the People's Bank of China, the central bank, said here Friday.An increase in orders would push up export growth to more than 20 percent in the second quarter, while import growth would also stay high due to surging domestic demand and rising import prices, said the bank in a report released on its website."Exports have returned to pre-crisis levels and imports have hit all-time highs after seasonal adjustments," it said.The report said China still faced deteriorating trade conditions with rising trade protectionism and the unstable global economic recovery.China's trade surplus stood at 196 billion U.S. dollars last year. March saw its first monthly trade deficit in six years, with exports at 112.11 billion U.S. dollars and imports surging 66 percent to 119.35 billion U.S. dollars.The country's macro-economy would continue to improve after a better-than-expected 11.9 percent economic growth in the first quarter, said the report, adding, "The Chinese economy has had a good start this year."Companies are more willing to invest, while the people are showing stronger consumption demand," it said.Investment structure had been improved in the first quarter, with private investment rising 30.4 percent year on year, exceeding the 21.1-percent growth of government or state-owned enterprise investment, said the bank.China's retail sales surged 17.9 percent year on year in the first quarter, and fixed assets investment rose 25.6 percent, data from the National Bureau of Statistics showed.The bank also noted that "credit controls have seen initial results", as new yuan-denominated loans fell to 2.6 trillion yuan in the first quarter, 1.98 trillion yuan less than the corresponding period last year.The government has stated that the proactive fiscal policy and relatively easy monetary policy would continue this year, while repeatedly warning of assets bubbles, inflation risks and overheating industries.Soaring commodity prices were one of the government's major concerns, as the consumer price index, the main gauge of inflation, rose 2.4 percent year on year in March, nearing the government's upper limit of 3 percent inflation this year.The bank said it would continue to strengthen liquidity management and keep an "appropriate" growth of money supply, so as to maintain stable prices and strike a balance between maintaining economic growth, adjusting the economic development model and avoiding inflation risks.

PYONGYANG, April 3 (Xinhua) -- The Democratic People's Republic of Korea (DPRK) top leader Kim Jong Il hosted a dinner party on Saturday for new Chinese ambassador Liu Hongcai, Chinese embassy diplomats and the visiting Chinese Tianjin Women's Volleyball Team.The Workers' Party of Korea (WPK) Central Committee Secretary Kim Ki Nam said in his address the traditional DPRK-China friendship, which was fostered by the elder generations of the two countries' leaders, had developed to new levels under the guidance of WPK General Secretary Kim Jong Il and Communist Party of China (CPC) Central Committee General Secretary Hu Jintao.Liu said China wanted to make more effort with the DPRK side for continuous consolidation and development of the China-DPRK friendship and cooperation.WPK Central Committee Secretary Choe Thae Bok, DPRK Foreign Affairs First Vice-Minister Kang Sok Ju and other major WPK and DPRK military officials were present at the party, at which the Chinese and DPRK sides sang national songs.Before the party, Choe, Kim Ki Nam and Liu watched a friendly match between the Tianjin volleyball team and the 4.25 Women's Volleyball Team of the DPRK.

GUANGZHOU, May 16 (Xinhua) -- A senior official of the Communist Party of China (CPC) has called for more efforts in improving the country's innovation capabilities to accelerate the transformation of economic growth pattern.Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks while making an inpsection tour to south China's Guangdong Province from Thursday to Sunday."Indigenous innovation is the way out for an expedited transformation of the economic growth pattern," said Li, who told the local government officials to persist in the transformation of the economic growth pattern as a key element and strategic step in implementing the scientific outlook on development.Li called on the local authorities to make great efforts in expanding the culture sector and get inspriration from doing so to keep improving quality and efficiency of economic development, trying hard to find new ways for China's sound and fast development of economy and society in the post-crisis era after the global financial downturn.Li hoped Guangdong to pay equal emphasis on construction of iconic cultural projects and on building of cultural life at grassroots level. Efforts should be made to explore new ways for advancing administration of public cultural organizations and ways of service, to greatly enrich spiritual life of the broad masses of the people, he said.Li stressed that it is imperative to improve mechanism of cultural market and establish platforms for evaluation of cultural assets, trading of property rights and venture capital investment in areas where conditions become mature."Pricing of cultural products should also be perfected so that more social funds are attracted to the cultural sector," said Li.During his inspection tour in Guangdong, Li visited places including Guangzhou, the provincial capital, Yangjiang and Shenzhen, and inspected enterprises, units of publicity and culture, as well as construction sites of venues for the 16th Asian Games scheduled for Nov.12-27.

BEIJING, April 9 (Xinhua) -- Visiting U.S. Under Secretary of State Robert D. Hormats said here Friday he is very optimistic the United States and China could address problems in a constructive way.He made the remarks when delivering a speech at the China Institute of Contemporary International Relations. Hormats, who once served as a senior economics advisor to Dr. Henry Kissinger, has visited China many times.He hailed the U.S.-China relationship that has witnessed "remarkable development" since the two countries forged diplomatic ties.But that does not mean there are no differences or competition between the United States and China, he added.Still, when looking back, the differences the two countries have been resolved in a constructive way, he said.The two countries' leaders understand they need to get along, he said.Hormats has made the visit to China amid calls in the United States for China to let its currency, the yuan, appreciate in value against the dollar.He said the United States commends China for its efforts to undertake rebalancing in China, and "we think China had made great progress.""We do not regard the competition with China as a zero-sum game," Hormats said, adding that strong growth in China helps the United States.The U.S.-China relationship is extremely important, and the two countries have a great opportunity now to do things in their common interests, he said.At the upcoming Nuclear Security Summit in Washington, Chinese President Hu Jintao and U.S. President Barack Obama will meet while the second China-U.S. Strategic and Economic Dialogue will take place in May.Hormats also said the two countries need to enhance collaboration within the global architecture, and expand cooperation in areas such as clean energy, innovation and economic rebalancing.Hormats will also attend the annual meeting of the Boao Forum for Asia (BFA) in China's southernmost Hainan Province.