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China's trade rises 7.7% in Jan-May period
By Hu Xiaocen |
June 26, 2012, Tuesday
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Online Edition
Online Edition
CHINA'S trade expanded at a relatively slow pace in the first five months, but the 2012 target is still achievable, the Ministry of Commerce said today.
"Based on the information we have from some companies and some regions, trade in June will pick up at the pace seen in May," said ministry spokesman Shen Danyang.
Trade increased 7.7 percent year on year in the first five months to US$1.5 trillion, registering a trade surplus of US$37.9 billion. The government's growth target for the year is 10 percent.
"A contraction in the first four months steepened due to rising costs, shrinking external demand and a deteriorating trade environment. The pick up in May is an encouraging sign that the measures introduced since last year have achieved positive results. China can meet the trade growth target for 2012," Shen said.
Dariusz Kowalczyk, senior economist at corporate and interment banking division of Crédit Agricole S.A., wrote in a mid-year report: "The situation in Europe is particularly dangerous. Exports to the eurozone are shrinking, which will likely contribute to trade subtracting 1 to 1.5 percentage points from 2012 growth."
"Based on the information we have from some companies and some regions, trade in June will pick up at the pace seen in May," said ministry spokesman Shen Danyang.
Trade increased 7.7 percent year on year in the first five months to US$1.5 trillion, registering a trade surplus of US$37.9 billion. The government's growth target for the year is 10 percent.
"A contraction in the first four months steepened due to rising costs, shrinking external demand and a deteriorating trade environment. The pick up in May is an encouraging sign that the measures introduced since last year have achieved positive results. China can meet the trade growth target for 2012," Shen said.
Dariusz Kowalczyk, senior economist at corporate and interment banking division of Crédit Agricole S.A., wrote in a mid-year report: "The situation in Europe is particularly dangerous. Exports to the eurozone are shrinking, which will likely contribute to trade subtracting 1 to 1.5 percentage points from 2012 growth."
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