December 9, 2003

China May Increase Soybean, Wheat Imports From US
 

China's Minister of State Development and Reform Ma Kai said yesterday that economic growth should be 8.5% in 2003 and forecasted to be above 7.2% in the next year.

"Gross domestic product (GDP) growth is expected to be 8.5% this year," Ma Kai told Reuters after a press briefing here. "GDP next year is estimated to be higher than the 7.2% target set by China's five-year plan."

Vice Commerce Minister Ma Xiuhong said that China could boost imports of U.S. soybeans and wheat and may send a delegation to the United States in mid-December to discuss the notion if prices are favorable.

"We might increase imports of soybean and wheat," Ma Xiuhong told Reuters, adding that China may send a delegation to the United States on December 15 or 16 "if the price is correct."