Latest News:  
Beijing   Light snow    2 / -1   City Forecast

People's Daily Online>>China Business

Crisis, protectionism slowing foreign trade

By Ai Fang (China Economic Net)

16:52, December 05, 2011

Edited and translated by People's Daily Online

Sun Yibiao, deputy director of China's General Administration of Customs, responded to concerns about a recent slowdown in the country's foreign trade growth, saying they are in part due to a resurgence of protectionism that has emerged amid the global financial crisis.

Sun explained that the economic slowdown in the past months actually marked economic growth compared to last year because China's economy entered a recovery period at that time. China's foreign trade volume dropped sharply in 2009 due to the global financial crisis, providing a low comparison base for trade growth last year.

A slowdown in the foreign trade growth this year is thus reasonable due to the relatively high comparison base from last year. China's foreign trade volume for the first 10 months of this year had already exceeded last year's total volume and posted a pretty high year-on-year growth rate of 24 percent, much higher than the country's GDP growth rate during the same period and also higher than the average annual foreign trade growth rate of nearly 16 percent during the 11th Five-Year-Plan period.

【1】 【2】

Email|Print|Comments(Editor:马茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. National treasure collection exhibition

  2. Two gaint pandas from China land in Britain

  3. China's female commandos

  4. 74th anniversary of Nanjing massacre

Most Popular

Opinions

  1. Latin America integration
  2. US should adopt new thinking for GPA
  3. Obstacles to climate action
  4. More drama after ban
  5. No silver bullet to cure poverty
  6. Only diplomacy can resolve Iran-West row
  7. Letting the GM genie out of the bottle
  8. Overcoming inter-city prejudices
  9. Why is China's financial sector going global?
  10. World needs safety net against euro crisis

What's happening in China

Super car club in commercial drive

  1. Schools failing on financial disclosure
  2. PKU cancels talk after free speech play
  3. Heavy fog in Beijing bodes ill for pollution
  4. Senior official stresses popular education on law
  5. 2 missing, 19 saved from sinking ship off

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival