随着中国出口商继续利用低成本占领新的海外市场，中国月度贸易顺差不断扩大，6月份再创新高，达到269亿美元，比去年同期增长85.5%。

China's swelling¹ monthly trade surplus hit a new high in June of $26.9bn, an 85.5 per cent increase on the same month last year, as local exporters continued to leverage² low costs to capture new overseas markets.

今年上半年，中国的贸易顺差已达到1130亿美元，高于2005年全年的水平，大约相当于今年头6个月中国预计经济产出的8%。

The surplus for the first half of the year has now reached $113bn (€82bn, ￡56bn), more than for the whole of 2005 and equal to about 8 per cent of China's expected economic output for the first six months of this year.

高盛(Goldman Sachs)的经济学家梁红表示："对中国或世界任何其它主要经济体而言，这种水平的贸易顺差都是空前的。"

"This level of trade surplus is unprecedented³ for China or any other major economy in the world," said Hong Liang, of Goldman Sachs.

上半年，中国一些产品的出口额大幅跃升，比如，钢铁出口上升97%，集装箱出口跃升55%。

Exports of some products jumped dramatically in the first half, such as steel, which was up by 97 per cent, and containers, up by 55 per cent.

在钢铁和其它一些产品方面，出口商最近数月加快了海外销售的步伐，以减少政府削减能源密集型产品出口退税的影响。

In the case of steel and some other products, exporters have accelerated sales overseas in recent months to beat government cuts to export tax rebates⁵ for energy-intensive products.

削减出口退税（其中最重要的部分于7月1日起生效）是中国政府最近数月宣布的多项措施之一。面临美欧保护主义情绪的不断抬头，此举旨在减少对出口商的激励。

The rebate⁴ cuts, the most important of which came into effect on July 1, are among measures announced by Beijing in recent months to reduce incentives⁶ for exporters in the face of rising protectionist sentiment in the US and Europe.

上月，中国沿海港口排满了试图在最终期限前运出货物的卡车。

Ports along China's coast were crammed⁷ with trucks last month attempting to deliver goods before the deadline.

除了中国颇具竞争力的汇率，及其作为许多亚洲出口品最终组装地的角色，中国贸易顺差的不断扩大，还反映出当地制造商在越来越多的工业品方面利用低成本的能力。

On top of China's competitive currency and its role as the last point of assembly for many Asian exports, the growing surplus reflects the capacity of local manufacturers to leverage low costs across a widening range of industrial goods.

纺织品及在华组装的电子产品等传统出口产品仍表现强劲，但同时制造商还从依赖廉价、低利润率的商品，转向利润率更高的附加值项目。

Traditional exports such as textiles and electronics assembled in China stayed strong but manufacturers are also moving away from a reliance on cheap, low-margin goods to value-added items offering higher profits.

今年上半年，面向海外的电视机销售额下降51%，而在过去18个月中，电信设备和船舶出口则一直强劲增长。

Sales of television sets overseas fell by 51 per cent in the first six months, while exports of telecommunications equipment and ships have been growing strongly in the last 18 months.

6月的贸易顺差还因进口疲软而得到强化，与上年同期相比，进口仅增长14%，而同期内出口增长了27%。

The June surplus was also accentuated⁸ by weak imports, which grew by only 14 per cent year-on-year, while exports accelerated by 27 per cent in the same period.