Surplus in trade will slide again

MACAO - China's trade surplus this year will be less than the $190 billion recorded last year as the nation restructures its economy, Commerce Minister Chen Deming said on Saturday.

"The surplus has been on the decline continually and some countries' accusation (of China piling up surpluses) does not hold water," Chen said during the third triennial forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries.

It reached $290 billion in 2008 before dropping sharply to $190 billion last year. Chen said China's trade surplus with the US actually helped the latter get through the worst financial crisis in decades.