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China projecting '06 trade surplus at up to US$130 billion
2006-06-26 03:17:27 THE ASSOCIATED PRESS

BEIJING, June 26(AP) -- China's politically sensitive trade surplus is likely to rise to between US$120 billion and $130 billion (€95 billion and €105 billion) this year, up from US$102 billion in 2005, a state newspaper on Monday quoted a top economic official as saying.

The comment by Bi Jingquan, deputy director of the National Reform and Development Commission, China's top economic planning agency, was reported by the China Securities Journal.

Beijing is under pressure from the United States and other trading partners to reduce its soaring trade surpluses.

The official Xinhua News Agency reported this weekend that China's trade is expected to rise by 20 percent this year, with total imports and exports likely to exceed US$1.7 trillion (€1.3 trillion). The report didn't cite any sources.

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