New Delhi: According to a latest statistics report available from Chinese customs, China's trade surplus with India is set to cross $4 billion mark in 2007.
This will enable the Chinese trading giant to enjoy a favourable trade balance for the first time in bilateral trade.
The report also says that the total trade during first 11 months of 2006 was $22.38 billion.
Indian exports to China during the period amounted to $9.40 billion while Indian imports from China surged to $12.98 billion.
Industry sources said China's trade surplus with India is set to cross $4 billion. China is enjoying a trade surplus with India for the first time in history.
The trade imbalance is mainly due to dwindling Chinese import of iron ore from India while growing demand for Chinese goods from India.
Meanwhile, China will continue to face trade frictions with both developed and developing nations in 2007.
However, according to a report by the Chinese Academy of Sciences, China's exports will rise steadily and rapidly, notably in sectors such as textiles and televisions sets.
Emerging fields where China has showed strength in recent years like iron and steel, information technology equipment, automobiles and the chemical industry will become new tension points in which developed nations find it easier to launch protection measures, the report said.
The government, however, has not yet released the December trade figures. But analysts predict that China's trade surplus is expected to break $200 billion in 2006.
Official figures show China's aggregate trade surplus surged to $156.52 billion in the year to November 2006, dwarfing the $102 billion for the whole of 2005 despite the government's efforts to balance payments.
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