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Beijing - Xinhua
China is drafting a five-year plan to promote trade in service sectors, aimed at reaching a trade volume of services to 600 billion U.S. dollars by the year 2015.
According to Chen Hong, Assistant Minister of Commerce of China, told a news conference in Beijing, "Although the start of trade in services in China late, but has the broad prospects."
She added that the volume of trade in services in China reached 362.4 billion U.S. dollars in 2010, double that in 2005, occupies fourth place in the current world.
And went on to say, however, that the proportion of services trade in total foreign trade of the country amounted to 10.9 per cent in 2010, compared to a world average of about 20 per cent.
Qiu indicated that the manufacturing sector in the country adopted a long high consumption of energy and natural resources, while the services sector represents a high value added, and less impact on the environment, and jobs are plentiful.
She said "The development of trade in services to help transform the growth of foreign trade in China, and promote economic restructuring."
China is experiencing an increasing deficit in trade in services, which sends more students and tourists abroad.
The Commerce Department report that the U.S. trade surplus with the U.S. China has risen rapidly in recent years from 2.4 billion dollars in 2007 to 10.4 billion dollars in 2010.
According to statistics from the World Trade Organization, that the world trade in services has expanded from 4.9 trillion to 7.2 trillion dollars over the past five years, annual growth rate of 8 per cent on average.
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