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People's Daily Online>>China Business

Difficult months on horizon for nation's exports

(China Daily)

13:24, March 24, 2012

BEIJING, March 24 (Xinhuanet) -- The situation surrounding China's exports will become more complicated and severe in the coming months amid an increasing number of trade protectionist measures and slackening global demand, the Ministry of Commerce said on Friday.

China will roll out policies regarding currency and tax rebates to bolster exports, Zhong Shan, deputy minister of commerce, said at a forum in Beijing, adding that it will be more arduous for the Chinese government to stabilize export growth.

According to the General Administration of Customs, China's exports declined 0.5 percent over the year in January, the first fall in more than two years. During the first two months, Chinese shipments grew by merely 6.9 percent year-on-year.

The figures are far less than the previous year and they set a pessimistic tone for the whole year, Zhong said.

From January to February of 2011, China's exports grew by 21.3 percent year-on-year.

According to Zhong, industrial competitiveness, global demand and the business environment are the decisive trends for the nation's exports, and they are all "not favorable".

China is losing its dominant competitiveness in labor costs as the nation pledges to raise minimum wages for workers to improve their livelihoods, Zhong said.

"The world economy is entering into a very difficult period, and trade cases targeting Chinese goods are growing," he said.

The United States recently announced it was setting up the Interagency Trade Enforcement Center to see whether its trade partners play by the rules. The move is widely seen as increasing frictions between China and the US.

In the first 11 months of last year, 58 trade remedy cases were launched worldwide against China, and China has been the major target for trade protectionism for a decade.

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