China's foreign trade surged by 24.6% year-on-year in the past five years, making China one of the countries with the fastest growth in service trade, according to Ministry of Commerce.

During the "Tenth Five Year Plan" period (2001-2005), exports of high-tech products exceeded 600 billion US dollars, an annual growth of 45%, 20 percentage points higher than that of the total exports.

China's leading place in foreign trade was established in the past five years as the volume of cargo trade jumped to 6.2% in 2004 from 2000's 3.6%. China thus became world No. 3 in cargo trade volume following America and Germany.

In 2004, China's service trade reached 134.6 billion US dollars, with the volume rising to 3.2% in 2004 from the 2.3% in 2000, ranking China the ninth in the world.

Some 20 high-tech and trade cities, 25 high-tech export bases and 6 national level software and medicine export bases were established in the past five years.

During the "Tenth Five Year Plan" period, China's foreign trade showed following characters.

Firstly, service trade variety extended from resource and labor-intensive projects such as labor export, cargo transport and tourism to areas like finance, information, consultation, patent and other sectors.

Secondly, a diversified market was formed and traditional market was maintained. Trade volumes with China's top three trade partners decreased, while trade with Russia, Latin America, mid and east Europe increased.

Thirdly, privately-owned enterprises became major force in stimulating China's cargo trade growth.

Fourthly, China's foreign trade dependence rate exceeded 60% in 2005. Imports of technology, equipment and material greatly drove China's technology advance and structure adjustment. Import-export duty became a major taxation resource. Sustained trade surplus also guaranteed forex reserve growth and international payment capacity.

By People's Daily Online