Chinese minister warns of grim trade situation
Updated: 2012-11-10 15:54
(Xinhua)
|
||||||||
BEIJING -- Chinese Minister of Commerce Chen Deming on Saturday warned of lingering pressure on the country's foreign trade from weak global demand, rising domestic costs and growing trade protectionism.
"The trade situation will be relatively grim in the next few months and there will be many difficulties next year," Chen told reporters at a group interview on the sideline of the 18th National Congress of the Communist Party of China, which opened Thursday.
China's exports rose 11.6 percent from one year earlier in October, exceeding market expectation for a rise of 9 percent and stronger than the 9.9-percent increase in September, according to latest figures from the General Administration of Customs.
Imports climbed 2.4 percent year-on-year last month, unchanged from the growth in September.
Despite the recovering export growth, China's total foreign trade in the first 10 months expanded only 6.3 percent from the same period last year.
It will be an arduous task to achieve the annual trade growth target of 10 percent but authorities will continue to work for that end, Chen said.
He cited lack of fundamental improvements in global demand, rising production costs of Chinese labor-intensive industries and stronger protectionism sentiment as the main factors dragging down exports.
Meanwhile, China's import growth remains tepid mainly because of lower commodity prices in the global market, Chen said.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |