Latest News:  
Beijing   Sunny/Cloudy    6 / -3   City Forecast

People's Daily Online>>China Business

10 percent growth in trade attainable for 2012, Chen says

By Wang Yanlin (Shanghai Daily)

09:25, March 08, 2012

CHINA should be able to accomplish its 10 percent growth target for trade this year but it won't be easy, Commerce Minister Chen Deming said yesterday.

In the first two months, preliminary data collected by the ministry showed that China's exports gained nearly 7 percent year on year, and imports advanced a bit more.

"Arduous efforts will be needed to meet the goal of increasing China's trade by 10 percent this year," Chen said. "We can still present growth in trade this year, and the overall conditions may improve in the second half of this year."

China's trade suffered a strong setback in January as both exports and imports dropped amid shrinking external demand and a slowing domestic economy. Exports in January fell 0.5 percent from a year earlier, the first drop since November 2009, and imports plunged 15 percent.

The International Monetary Fund warned last month that China's trade may have to endure hardship this year, and if Europe experiences a sharp economic downturn, China's gross domestic product could be almost halved from a projected 8 percent due to falling exports.

"We will keep trade policies basically stable to support exporters," Chen said. "Also, we will step up efforts to encourage imports as a means to sustain our trade growth."

During the first two months of 2011, China's foreign trade totaled US$495.8 billion, representing a 28.3 percent year-on-year growth.

Chen attributed this year's slowdown to tighter environments at home and abroad and the deepening of the global financial crisis, citing the impact of the European debt crisis on consumption.

Domestically, rising costs have pushed up the prices of goods and services, he said.

Since August last year, China's exports have slowed, from a year-on-year growth of 27.8 percent in August to 12 percent in December.

Email|Print|Comments(Editor:雪萌)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Guangzhou beats Jeonbuk 5-1 in AFC Champions League

  2. Group wedding held to mark Int'l Women's Day in Quanzhou, Fujian

  3. A journey in North Tibet: Potala Palace

  4. North Korea, a beautiful, bright country

Most Popular

Opinions

  1. Chinese products bring benefits to U.S. consumers
  2. Is international 'hot money' flowing into China?
  3. China's economy to roar ahead amid global woes
  4. U.S. solution to Syria issue doomed to failure
  5. Trust key to stability on Korean Peninsula
  6. Public will increasingly swaying diplomatic policies
  7. Political dialogue is right solution to Syrian crisis
  8. West's pressure no sway on China's defense budget
  9. Manila returns to usual games of cat and mouse
  10. How should China cope with US return to Asia?

What's happening in China

Beijing to switch from coal to gas to go green

  1. Low-priced tomb offer shunned
  2. Early start on PM2.5 monitoring
  3. Taboo subject takes its toll on women
  4. Court accepts Jordan trademark infringement suit
  5. Poor patients with critical illnesses to get gov't aid

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai