China's surplus eases ahead of G20 summit
The Independent Monday 14th February, 2011
As the world's finance ministers prepare to meet for their first summit under French chairmanship in Paris on Friday, news emerged from Beijing yesterday that China's vast trade surplus with the rest of the world had halved. China's trade surplus fell by 53.5 per cent to $6.45bn (£4.03bn) in January as exports and imports grew strongly ahead of the Lunar New Year holiday. As part of a trend towards a lower trade balance and accompanied by a modest upward movement in the yuan-dollar rate, it will be welcome news as rows between China and America, the "G2", about an allegedly undervalued Chinese currency usually disrupt G20 meetings.
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