China's Export Growth Rate Picking Up

The declining rate of China's exports has been narrowing from January to July this year, according to Hu Chusheng, spokesman for the Ministry of Foreign Trade and Economic Cooperation (MOFTEC).

Hu briefed the Chinese and foreign press on China's foreign trade development here today, saying China's export growth rate is picking up and the decline will be reversed.

China reported a total trade volume of 189.11 billion US dollars in the first seven months this year, up 5.4 percent. Exports dropped 2.8 percent to 100.2 billion US dollars while import increased 16.6 percent to 88.91 billion US dollars.

The spokesman stressed that export went up 7.5 percent to 17.34 billion US dollars in July, the highest monthly volume and the second monthly increase in the past three months this year.

China's decrease rate of exports has been narrowing during the past seven months, which proves that the measures taken by the government have won initial success, he pointed out.

Exports will remain difficult in the following months; however, more positive factors have appeared since those countries hit by the Asian financial crisis have been recovering, he said.

MOFTEC is confident of meeting the goal of expanding exports, he said, adding that total trade volume this year is expected to exceed that of last year, and there are hopeful signs that exports will also continue to increase.