Exports seen to grow less than 10% in 2011
CHINA S exports were estimated to grow less than 10 percent in 2011, the Ta Kung Pao newspaper said Saturday, quoting a person in the country s trade system.
China s commerce ministry has set a target to increase its foreign trade by 10 percent this year, with imports hopefully growing faster than exports, the Hong Kong-based Chinese language newspaper said, quoting the unnamed person but did not specify whether it was a government official. China has repeatedly pledged to balance its trade account by importing more, in part due to pressure from trade partners to pull more weight as a consumer, and as it seeks to reduce its economic dependence on exports.
Home appliance export growth may slow this year
CHINESE exports of home appliances could grow at a slower rate this year, as an appreciating yuan would make products less competitive, said Hu Xiaohong, head of the information and consultation department at the China Household Electrical Appliances Association.
There are still uncertainties in the global economic recovery this year, this will also be a negative factor, Hu said Friday in a speech at Maike Futures Co. s annual meeting.
China overtakes U.S. as biggest economy in purchasing power
CHINA overtook the United States last year as the world s biggest economy when measured in terms of purchasing power, according to Arvind Subramanian, senior fellow at the Peterson Institute for International Economics in Washington, on Friday.
The size of China s economy in 2010 was US$14.8 trillion, compared with the United States US$14.6 trillion, when accounting for the countries differing costs of living, Subramanian said. So-called purchasing power parity calculates GDP using exchange rates that adjusts for price differences of the same goods between nations.
