China’s trade likely to recover after May
Print Edition
CHINA’S trade may regain its growth momentum after its economy started fairly well at the start of this year, the Ministry of Commerce said yesterday.
“China’s overall trade is likely to gain growth momentum again after May when (last year’s) high base effects fade off,” a ministry statement said. “China’s economy has fared relatively well at the beginning of this year, which paves the way for China’s trade to expand steadily.”
Although the ministry’s quarterly report on China’s trade conditions indicated exports and imports this year would continue to face difficulties and hurdles, “China’s trade is likely to have a stable growth this year because the external conditions are better and won’t change much.”
In the first quarter, China’s trade shed 1 percent from a year earlier to US$965.8 billion, with exports down 3.4 percent and imports up 1.6 percent.
In March, exports fell 6.6 percent and imports shrank 11.3 percent, worse than expected, as China boosted efforts on combating hot money as well as a high comparative base a year earlier.
Premier Li Keqiang said last week that China will boost support for trade, including faster tax rebate payments for exporters.
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