China certain of meeting 7.5% rise in trade
Print Edition
CHINA will meet its target of 7.5 percent growth in trade this year, Minister of Commerce Gao Hucheng said yesterday, but he also counseled a calm and responsible attitude when faced with rising trade disputes.
The global trade environment is improving as demand recovers in developed countries and fundamentals remain solid in emerging markets, Gao said at a news briefing during the annual session of the National People’s Congress in Beijing.
“From the domestic perspective, Chinese traders have been actively enhancing their global competitiveness,” Gao said.
“Many companies are catching up in terms of production structure and marketing strategy. They make us confident of fulfilling the trade growth target.”
In the government report delivered by Premier Li Keqiang on Wednesday, China set the 7.5 percent trade growth target for this year, down from the 8 percent goal set last year.
China’s exports rose 7.9 percent and imports gained 7.3 percent for a total trade value of US$4.16 trillion last year, up 7.6 percent. It was the first time that China’s trade in goods beat the US$4 trillion mark as it became the world’s biggest trading nation.
As China has also become the biggest trading partner of more than 120 countries, Gao urged a calm attitude toward increasing trade disputes.
On the trade relations with the European Union, he said China has learned from the trade disputes over solar panel sales in the EU.
“Bilateral trade between China and the EU has surpassed US$500 billion for three consecutive years, and it is natural for so big trading partners to have disagreements,” Gao said.
“It is important for us to stay calm in face of disagreements and to address problems through communication and collaboration,” Gao added.
China and the EU agreed to set a minimum export price for solar panels in July and ended the dispute which was the single largest trade row by value.
On the China (Shanghai) Pilot Free Trade Zone, Gao said the current assessment of the trial is positive. He confirmed Guangdong Province has applied to set up a similar FTZ, and his ministry is working with the local government.
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