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To address trade surpluses, Beijing will loosen its regulation of imports, cut import costs and make import financing easier for domestic companies, says an AFP report published in the Straits Times.

Chong Quan, a top trade official, says the government will encourage imports from nations with which it is running a trade surplus. He adds that China also will import energy, advanced technology and other equipment.

Last year, China surpassed Germany to become the world's top exporter. The nation's export success has attracted criticism from major trading partners such as the U.S., with which it runs a large trade surplus.

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