China will make efforts to promote its trade balance and encourage domestic consumption in 2007 to realize efficient and rapid economic growth, said Vice Premier Wu Yi on Tuesday.

In her instructions to the two-day national commerce work meeting held in Beijing, Wu said the country would try to optimize its trade structure and address the trade imbalance this year.

China will endeavor to raise the efficiency of foreign capital utilization and encourage overseas investment and international business from domestic enterprises, she said.

Wu said China would promote multilateral and regional economic cooperation, and properly handle trade disputes.

To encourage domestic consumption, Wu said China would make market reforms and improve logistics.

China's foreign trade exceeded US$1.76 trillion in 2006 and it used more than 63 billion U.S. dollars of foreign direct investment.

(Xinhua News Agency January 17, 2007)