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The country¡¯s trade surplus is set to hit a record US$150 billion this year, up from last year¡¯s US$109.8 billion, as the country¡¯s exports continue to surge, a government report said.

The Ministry of Commerce (MOC) report said China¡¯s exports are likely to reach US$960 billion by the year-end, up 26 percent on last year, while imports would jump 22 percent to US$810 billion, said the report.

China will continue recording trade surpluses for years to come, not due to design but to broad international forces, said an expert from a government think tank that co-wrote the report.

¡°China is not in pursuit of a trade surplus. On the contrary, the continuous growth in trade surplus has become one of the major concerns of the government,¡± Li Yushi of the Chinese Academy of International Trade and Economic Cooperation said.

Li said the transfer of much multinational manufacturing to China is to blame for the mounting surplus.

October witnessed a sudden monthly trade surplus record of US$23.8 billion.

Experts contributed the climb to the latest adjustment in the tax rebate regime. The Central Government plans to reduce or scrap the tax rebate on exports of some products in December, which prompted many exporters to fulfil orders before the new tax rebate rate is adopted.

¡°Such big volume is not expected to last long,¡± said Liu Haiquan, deputy director of the MOC¡¯s comprehensive trade and market affairs department.

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