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People's Daily Online>>China Business

Ministry: Goal for foreign trade growth can be achieved

By Li Jiabao, Ding Qingfen (China Daily)

13:24, April 18, 2012

China's better-than-expected trade growth in the first quarter signals an improving environment for the second quarter and full-year trade growth of 10 percent, the Ministry of Commerce said on Tuesday.

Foreign trade expanded 7.3 percent in the first quarter, reflecting many factors including slack overseas demand, rising domestic costs and trade friction, Shen Danyang, spokesman for the ministry, told a regular news conference.

"It is worth noting that the growth achievement in the first quarter was not easy, since the country was adjusting its trade structure and pursuing balanced trade.

"The growth rate, which is better than expected, shows that measures to stabilize trade are taking effect and the continuous slowdown in trade growth since August has been halted.

"Trade is now moving into a period of steady growth at a low rate," Shen said.

"The trade scenario for the second quarter will keep improving and the full-year trade growth goal" of 10 percent set by the central government "can be achieved", he said.

He added that external and internal conditions are very difficult.

"The global economy still lacks strong momentum for growth, while the world trade environment is becoming more challenging.

"The continuous cost increases at home have narrowed the profits of exporters, and China's conventional exports are loosing their competitive edge.

"Meanwhile, medium- and high-end exports are under great pressure in developed economies," Shen said.

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