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China's trade growth forecast 10 percent this year

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China's trade growth forecast 10 percent this year


17/01/2012

China aims to expand the size of its foreign trade by about 10 percent year on year in 2012, with growth slowing significantly from what was the year 2011, while facing the country from the grim situation in the promotion of exports, said an official with the highest economic planning body in the country as he said Zhang Xiao Qiang, vice chairman of the State Development and Reform in a forum held in Beijing:

China expects more difficulties in foreign trade and the exportation dark in 2012, especially in the first half of the year. will suffer, China, the largest exporter in the world, suffer from weak external demand and growing competition and trade disputes and estimate the value of the yuan and rising costs on local institutions, said Zhang at the annual meeting of the Chinese economy 2011 -2012, organized by the China Centre for economic exchanges International. noted that China's foreign trade rose 22.5 percent in 2011 year on year to reach to 3.64 trillion U.S. dollars, according to customs figures. Zhang said that this business has slowed during the past few months. Compared Bashhrkanon, 2011, the lower export growth year on year in Chehrkanon first 24.2 percentage points to 13.4 percent, and the growth in imports by 39.8 percentage points to 11.8 percent. Zhang suggested to stabilize the growth of exports through improved tax and insurance policies and to provide more support financial companies, small businesses.

He said that he should develop financial products to help the exporters to hedge against exchange rate fluctuations, while the need to keep the yuan stable. He said he should be encouraged more use of the yuan in trade settlement across the border. He said that the government reduced import tariffs on some products energy, raw materials, advanced technologies and key components to promote imports and warned: it is China could face more obstacles to trade, which take the form of strict standards on technology, payroll, environmental protection and intellectual property rights.. He said that foreign countries implemented 67 of the measures to address trade against China's exports in in 2011, including 41 developing countries. and when we increased the difficult time, we have to stand in a more stable against trade protectionism. Zhang suggested further promotion of trade talks of the Doha Round talks on pay and free trade agreements with more countries.

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