"Exports were definitely inflated in the first four months, and mainly driven by shipments to Hong Kong."

Li Jian, a researcher at the Chinese Academy of International Trade and Economic Coopertion, a think tank of the Ministry of Commerce. China's trade surplus figures in the first four months of the year were inflated by hot money smuggled into the country to profit from interest rate differen-tials and investments in the real estate and financial sectors amid the yuan's appreciation, economists say.

"This is the golden age for the marine economy."

Gao Zhiguo, director of the China Institute for Marine Development Strategy.

(China Daily 05/24/2013 page14)