{"id":495245,"date":"2026-05-21T04:51:23","date_gmt":"2026-05-21T04:51:23","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/495245\/"},"modified":"2026-05-21T04:51:23","modified_gmt":"2026-05-21T04:51:23","slug":"with-china-poised-for-record-trade-surplus-former-chongqing-mayor-calls-for-action","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/495245\/","title":{"rendered":"With China poised for record trade surplus, former Chongqing mayor calls for action"},"content":{"rendered":"<p>China needs a coordinated policy package of currency appreciation, tariff cuts and elevated labour benefits to rebalance its <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/economic-indicators\/article\/3346036\/chi?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">massive trade surplus<\/a>, outspoken former Chongqing mayor Huang Qifan said on Tuesday.Speaking at this year\u2019s Tsinghua PBCSF Global Finance Forum in Chengdu, the capital of the southwestern province of Sichuan, Huang described China\u2019s 2025 <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3338034\/china-has-logged-us1-trillion-trade-surplus-where-all-money-going?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">record-breaking<\/a> US$1.2 trillion merchandise trade surplus as \u201cshocking\u201d.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">That momentum has shown no signs of slowing. China\u2019s goods trade surplus stood at US$347.7 billion in the first four months of this year.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cWe could see another US$1.2 trillion surplus this year,\u201d Huang warned.<\/p>\n<p>To address the trade imbalance, Huang proposed several measures, including a gradual <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3352735\/chinas-exporters-face-test-yuan-hits-3-year-high-against-us-dollar?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">appreciation of the yuan<\/a> by 15 to 20 per cent over the next decade, but he stressed that the appreciation must be steady and incremental.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Such a move, he argued, would actively boost imports while raising export costs to cool down the surplus.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Beyond balancing trade, a stronger currency is also crucial for China\u2019s long-term growth targets, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"China needs a coordinated policy package of currency appreciation, tariff cuts and elevated labour benefits to rebalance its&hellip;\n","protected":false},"author":2,"featured_media":495246,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[174],"tags":[1793,79,6834,381,215803,2706,28515,128824,9403,215806,179,18,215805,130390,19,17,215804,53397,14968,102054,1255,74411,37668,215807,107,8949,215802],"class_list":["post-495245","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-beijing","tag-business","tag-chengdu","tag-china","tag-china-development","tag-china-economy","tag-china-exports","tag-china-gdp","tag-chongqing","tag-currency-appreciation","tag-economy","tag-eire","tag-export-surplus","tag-huang-qifan","tag-ie","tag-ireland","tag-paid-leave-system","tag-price-wars","tag-sichuan","tag-tariff-cuts","tag-tariffs","tag-trade-dispute","tag-trade-surplus","tag-tsinghua-pbcsf-global-finance-forum","tag-us","tag-us-china-trade-war","tag-yuan-appreciation"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116610772929089840","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/495245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=495245"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/495245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/495246"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=495245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=495245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=495245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}