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China says 2005 surplus near 102 billion Original Source Link: (May no longer be active)    http://abcnews.go.com/Business/wireStory?id=1492727 http://abcnews.go.com/Business/wireStory?id=1492727 China Says 2005 Trade Surplus Near $102B China Says 2005 Trade Surplus Near $102 Billion, More Than Triple Previous Year The Associated Press SHANGHAI, China Jan 10, 2006 SHANGHAI, China - China's trade surplus surged to $101.88 billion last year, more than triple the $32 billion surplus recorded the year before, according to customs figures released Wednesday. Exports rose 28.4 percent year-on-year in 2005 to $762 billion, while imports rose 17.6 percent to $660 billion, the General Administration of Customs said in a report posted on its Web site. The figures were largely in line with expectations, but they were likely to draw more pressure for Beijing to loosen foreign exchange controls that U.S. officials and other critics contend keep China's currency, the yuan, undervalued. That makes Chinese exports relatively cheap in overseas markets. The government forecast this week that growth in exports would slow significantly this year due to higher oil prices and simmering friction over China's burgeoning trade surpluses. The main planning agency, the National Development and Reform Commission, estimated in a report published Wednesday in the state-run newspaper China Securities Journal that exports would rise about 15 percent year-on-year in 2006, with imports climbing about 18 percent. Strong export growth has been a key factor behind China's feverish economic growth in recent years. The commission estimated that growth hit 9.8 percent in 2005, and says it is expected to slow to a still-torrid pace of 8.5 percent to 9 percent this year. Copyright 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Copyright © 2006 ABC News Internet Ventures

Asia bankers gear up china stock deals { August 28 2003 } Asian stocks slide india halted { April 2004 } Bank of japan predicts continued deflation China gdp 20 percent bigger than expected { December 13 2005 } China losing protections for poor { January 15 2006 } China raises interest rates for first time in 9 years China replaces us { June 28 2002 } China says 2005 surplus near 102 billion China toy sweat shops China widens role in latin america { November 20 2004 } Downgrade for japanese economy Economic damage seen in asia after terror Foreign direct investment in china hits records India buys 1b in asian bonds Japan 18yr low { September 2 2002 } Japan 19yr low Japan europe concerned for dollar slide Japan markets two days plunge { January 19 2006 } Japan pursuing weak yen policy { August 27 2003 } Japan vm prefers bonds local currency { August 15 2003 } Japanese stocks plunge april 2005 { April 18 2005 } Japanese yen gains against dollar Rural healthcare dies as china wealth grows { January 14 2006 } Tokyo nikkei 20 yr low { April 11 2003 } Tokyo stocks fall 5 percent Files Listed: 25

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