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Official says China's foreign trade "not optimistic": report |
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2011-6-21
Chinese vice commercial minister Zhong Shan said growth in China's imports will "probably" slow down in the coming months as measures to cool the economy takes effect, and the prospects of exports are not optimistic, reported Saturday's China Daily.
China's exports and imports will "keep growing during the rest of the year," but China's import growth is likely to slow down in the second half of this year, as the government's tightening measures on the economy will gradually take off, said Zhong while delivering a speech at a meeting in Shandong province.
The complicated situation in the global market, rising production costs and industrial overcapacity have all brought uncertainties to China's future exports and foreign trade, said Zhong.
Zhong also warned of a possible rise of trade frictions with a recovery in the global economy and more countries to focus on export promotion.
China's imports jumped 28.4 percent year-on-year to reach 144.11 billion U.S. dollars in May. But export growth slowed to 19.4 percent in the same period to 157.16 billion U.S. dollars, sharply down from April's 29.9 percent increase.
Source:Xinhua
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