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Chen Deming also said that the RMB exchange rate should be gradually and controllably adjusted according to the market supply and demand relationship. The RMB exchange rate is not directly linked to trade. Keeping the RMB exchange rate basically stable is conducive to the world economy gradually stepping out of the shadow of the international financial crisis and achieving restorative growth. In 2009, China’s trade surplus decreased by more than $100 billion from 2008. In the future, China will continue to expand imports, making China's balance of payments situation more balanced.
Minister of Commerce Chen Deming: Foreign trade recovery may take more than one year
On January 20th, the 8th meeting of the China-India Economic and Trade Science and Technology Joint Group was held in Beijing. Minister of Commerce Chen Deming said that although China's foreign trade has shown a recovery growth in the near future, it will take a long time to return to the 2008 level. “It is estimated that the recovery period will be in sync with the recovery of the global economy and may take a year or two.â€