China Aims to Increase Exports, Imports by 10%

China aims to increase the volume of total exports and imports by around 10 percent year-on-year in 2012 to further improve its international balance of payments.

"While expanding domestic demand is crucial, we can never overlook the importance of external demand in China's economic development," said the report to be delivered by Premier Wen Jiabao Monday morning at the annual parliamentary session.

According to the report, China will continue to implement the export tax rebate policy and fully implement the strategy of boosting trade through upgrading technologies, improving quality, and diversifying markets.

"We will consolidate traditional markets in the United States, Japan, and Europe and open up emerging markets," the report said, adding China will limit the export of goods whose production is energy intensive and highly polluting.

Meanwhile, China will adopt guidelines to increase imports and promote trade balance, improve import policies, build more platforms to promote imports, and work for balanced growth of exports and imports, according to the report.