China is now the third largest global trading power
Beijing: China's foreign trade in 2004 surged to a record $1.15 trillion to become the world's third largest trading power behind the United States and Germany. According to the Ministry of Commerce, the figure of $1.15 trillion marks a surge of 35.7 per cent in foreign trade last year.

The Chinese exports last year zoomed to $593.4 billion, reflecting a year-on-year increase of 35.4 per cent. The imports rose 36 per cent to $561.4 billion.

Despite running a trade deficit from January to August this year, the final figure showed that China enjoyed a trade surplus of 32 billion US dollars. In 2003, Chinas trade surplus amounted to 25.5 billion US dollars.

In April, the Chinese Government launched efforts to cool down on overheated investment in selected sectors such as steel, aluminium and cement.
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