China expected to boost imports of high-tech goods from European Union

China's imports of high-tech goods from the European Union (EU) will continue to increase in the next few months despite the slowdown in exports, say economists.

"Trade imbalances between the China and the EU are shrinking and there is ample evidence of it in the February trade figures," says Zhao Junjie, senior researcher of European studies at the Chinese Academy of Social Sciences.

Bilateral trade between China and the EU stood at $30.22 billion (21.69 billion euros) in February, with China having a trade surplus of $7.64 billion, according to the General Administration of Customs.

China registered a trade deficit of $7.3 billion in February. Wang Chun / for China Daily

Exports to the EU decreased 8 percent in February, from a year earlier, to $18.93 billion, while imports surged 16.4 percent to $11.29 billion.

The Ministry of Commerce has set a target this year to expand imports and stabilize exports.

Zhao says exports declined in February mainly due to the Spring Festival holidays.

"The government's decision to focus more on an innovation-driven economy rather than an export-led one has also contributed to the February figures," Zhao says.

The silver lining in February, however, has been the increase in high-tech imports, says Zhou Feng, a Shanghai-based financial analyst.

"There has been a substantial increase in imports of goods like clean energy equipment," he says.

The recent visits by Chinese leaders to Europe and their commitment to increase bilateral trade have acted as catalysts in boosting imports, says Zhou.

Top Chinese leaders including President Hu Jintao, Premier Wen Jiabao and Vice-Premier Li Keqiang had in the last few months led several high-level delegations to Europe to promote bilateral trade.

One of the key takeaways from the visits has been the changing composition of the import basket. Earlier China used to import mostly raw materials and machinery from Europe. This has now given way to high-tech and finished product imports, Zhou says.

Song Hong, head of the international trade section at the Chinese Academy of Social Sciences, says it is unlikely that China will run up a trade deficit with the EU.

"The EU's demand for Chinese goods will continue to remain strong as the 27-nation bloc is gradually recovering from the financial crisis. The trade imbalance is likely to narrow further as China's imports from the EU increase," Song says.