China to overtake Japan in export: JP Morgan Chase

JP Morgan Chase is very optimistic about China's economy, said Jing Ulrich, managing director and head of markets for China, on November 11. He said that China will continue to maintain sound and stable economic growth and is expected to become world No.2 or No. 3 economic power by 2020.

Jing Ulrich predicted that China's export volume would reach 767 billion US dollars in 2005 and Japan's export volume would stand at 564 billion US dollars, China's total export volume is expected to exceed that of Japan this year although Japan's economy is three times that of China.

Figures show that China's trade surplus, US trade deficit reached a new high in the third quarter this year.

But Jing Ulrich believes that trade surplus between China and US in the year 2006 will drop as the imports of oil or other major commodities increase.

Jing Ulrich said that foreign investors show more and more interests in China, many of them have the desire to come to China and learn more about Chinese enterprises.

She said that foreign investors are permitted to invest in China's A share or Hong Kong's H share markets, many venture capital companies have begun to invest in China.

By People's Daily Online