MOC says foreign trade set to pick up
Print Edition
CHINA’S foreign trade will pick up in the second half of the year, thanks to structural improvements, the Ministry of Commerce said.
Exports continued to grow and import decline narrowed at the start of the year, Sun Jiwen, the ministry’s spokesperson, said on Saturday.
Total foreign trade posted a 7.6 percent decrease in the first four months, falling to US$1.22 trillion, with exports rising 1.6 percent and imports dropping by 17.3 percent.
Sun attributed the import decline to falling prices of bulk commodities, which dragged down import growth by nearly 10 percentage points.
“The price decline saved US$63.4 billion for Chinese companies; cutting costs and improving global competence,” Sun said, adding the outlook of China’s foreign trade was still grim due to sluggish external markets, appreciating yuan, high funding costs and rising salaries.
Despite increasing pressure, China’s export structure continued to improve. Exports to emerging markets rose by 5.7 percent in the January-April period, contributing nearly 170 percent of export increase, and enterprises increased their presence overseas by nurturing brands and boosting research.
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