China will allow more imports from the United States and European Union (EU) this year in an effort to ease its trade imbalances with them, the head of China's trade promotion organization said Monday.
Wan Jifei, chairman of the China Council for the Promotion of International Trade, said China will send more trade delegations this year to the Western countries to buy more of their products, according to the state-run China Daily.
"During the first half (of the year), we will have one team each for the U.S. and the EU -- including Britain, Germany and France -- and in the second half, one more each for both regions," said Wan, who attended the annual meeting of the council's quasi-parliament in Beijing.
The U.S. and many European countries have stepped up pressure on China, urging the country to reduce an excessive trade surplus.
They have attributed their trade deficits with China largely to the cheaper Chinese currency, which enables cheap exports from China. It resulted in weaker competitiveness of Western companies in the global marketplace and higher unemployment in the U.S. and Europe, they claimed.
Since the second half of 2010, the Chinese authorities have vowed to take measures to balance trade by driving up imports and stabilizing exports.
"Maintaining balanced trade is now an urgent task for China. We will not only organize more trade delegations this year, but also increase efforts to hold more import-themed forums and exhibitions," said Wan.
The move is seen as a hint that China may let the value of the yuan appreciate, as Beijing has been accused of reaping unfair benefits by keeping the yuan artificially low, which makes Chinese products cheaper overseas.
It is also expected to reduce the imported inflation in China, which has been facing mounting inflationary pressure, watchers said.