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            may 26, 2018

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TransKazakhstan 2018

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China foreign trade still faces big challenges


China's foreign trade still faces downward pressure despite improvements in January, said Wang Dongtang, deputy director-general of the foreign trade department under the Ministry of Commerce.
"Uncertain and unstable factors are increasing. Difficulties facing China's foreign trade are not short term," said Mr Wang.
He explained that the rise of trade protectionism, sluggish overseas demand, and increasing domestic production costs are potential restraints on China's future exports growth, Xinhua reported.
However, Mr Wang said the foreign trade fundamentals have not changed and the country still retains advantages in this regard.
China's trade started this year with a strong rebound, with exports and imports both up significantly. Exports rose 15.9 per cent year on year in January, up from 0.6 percent in December, while imports increased 25.2 per cent, up from 10.8 per cent, according to customs data.
Exports to the European Union, China's biggest trade partner, climbed 13.6 per cent year on year in January. Exports to its second-biggest trade partner, the United States, rose 17.2 per cent, and those to emerging economies also jumped.

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