CRI听力:Commerce Minister: China to be World's Biggest Importer Soon

Chen Deming made the remarks when addressing at the China Development Forum 2012 in Beijing.

"Many Western politicians blame China for global trade imbalance, but they seldom mentioned that China is also the world's second largest importer. China will become the biggest one in a few years. As to the import volume, we have a very short distance to the world largest importer. China can become the world's largest domestic market in the next few years."

Chen Deming said the growth rate of China's retail sales stayed between 16 percent and 18 percent over recent years, higher than its GDP growth, indicating the country's huge purchasing potential.

Chen added trade remedy measures taken by some developed countries are undesirable, because they are neither fair to other economies, nor fair to domestic citizens and enterprises.

"The United States said repeatedly that they would open the market, and they would make an open market policy to China. I had been listening to this for three years without seeing any practical actions taken. In the past, at least I could hear the 'sound of steps' though seeing no people stepping downstairs, but now I cannot even hear the sound."

On rare earth trade, the minister also expressed his opinion.

"We sell our rare earth to the United States, and the country puts our rare earth into its commodities. Then it says that exporting its commodities to China is unfavorable to its security. Is exporting our rare earth to the United States good for China's security?"

Chen said many Western politicians blamed China for global trade imbalance, but they seldom mentioned that China, with its population accounting for 19 percent of the world total, is also the world's second largest importer.

He noted that emerging countries should base their growth on domestic demand so as to balance its growth, while opening their markets and facilitating trade in line with national conditions.

Customs data shows that China's trade surplus narrowed 14.5 percent year-on-year to 155.14 billion U.S. dollars in 2011, with imports up 25 percent to 1.74 trillion U.S. dollars.

The weeklong China Development Forum 2012 on the theme of "China and the World: Macro-Stabilization and Economic Restructuring" wrapped up Monday.

For CRI, this is Wei Tong.