Meeting 7.5% trade target “very arduous”
May 26, 2014 Category Foreign trade, Weekly
It is a “very arduous” task for China to meet the 7.5% trade growth target this year amid weak global demand and tougher international competition. The target can only be achieved if year-on-year trade growth exceeds 11.3% every month after May, Zhang Ji, Director of the Ministry of Commerce’s Foreign Trade Department, said. He added that shipments to emerging markets declined 7.2% in the first four months of this year, compared with double-digit growth in the same period of last year. Emerging markets took 88% of China’s exports last year. China also missed its trade growth target of 8% for 2013 and 10% in 2012. In the first four months, China’s exports declined 4.8% to CNY4.16 trillion and imports fell 1.2% to CNY3.94 trillion, according to the General Administration of Customs. In April, exports increased 0.9% from a year earlier and imports rose 0.8%. Zhang said the Ministry will implement detailed trade stimulation policies in the next two months, including speeding up export-tax rebates and expanding credits to importers and exporters.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world