China will make efforts to promote its trade balance and encourage domestic consumption in 2007 to realize efficient and rapid economic growth, said Vice Premier Wu Yi on Tuesday.

In her address to the two-day national commerce work meeting held in Beijing she said the country would optimize its business structure and address the trade imbalance this year.

China would endeavor to raise the efficiency of foreign capital utilization and encourage overseas investment and international business from domestic enterprises, she said.

Wu said China would promote multilateral and regional economic cooperation and properly handle trade disputes.

To encourage domestic consumption China would introduce market reforms and improve logistics, Wu explained.

China's foreign trade exceeded US$1.76 trillion in 2006 and the country utilized over US$63 billion of foreign direct investment.

(Xinhua News Agency January 17, 2007)