NPC member, Commerce Minister Deming Chen said the Ministry of Commerce (MoC) will cooperate with other ministries and departments to ease the pressure brought by the recent stronger RMB appreciation. The MoC will also develop cross-border M&A and encourage the participation of foreign investment in SOE reform. 

So far, RMB has appreciated about 16 percent. RMB gaining over 2.9% against dollar in value in the first two months has impacted the exports. Minister Chen said that China's goal is to seek for international balance of payments instead of trade surplus. Investing abroad will be given top priority when it comes to resolve the issue of RMB appreciation in the future, added the minister.

Minister Chen attributed the first two months' increase mainly to the big rise in large-scale projects, a stronger RMB, policy adjustment and change, as well as the slowing economic growth in the developed countries. As growth in the developed world slowed, companies were eyeing more closely at China.

He also pointed out the next step is to develop cross-border M&A and encourage more investments from high tech enterprises into China. The MoC will play well its function to do well in trade in exports and imports in accordance with actual conditions.