China's trade surplus fell nearly 10 percent in the first seven months of the year to 123 billion US dollars. Analysts say the fall was partly a result of China's policies to tame surplus, but was also in part because of the rising prices of imported energy and resources.

Figures from the General Administration of Customs show China's total global trade volume reached 1.48 trillion US dollars between January and July this year, which is 26 percent higher from a year ago.

The European Union remains China's largest trading partner. Analysts believe demand for Chinese exports will soften as the US credit crisis continue to spread. But demands from developing economies are still likely to be strong.

(CCTV August 12, 2008)