China's foreign trade pressure is increasing, this year's exports will be "high before low"

Vice Minister of Commerce Zhong Shan said here today that the pressure on China's foreign trade is increasing. The lack of external demand is still a prominent problem. This year's exports will show a trend of “before high and then low”.

At the National Export Credit Insurance Work Conference, Zhong Shan said that since 2010, the world economic situation has improved, foreign demand has recovered, and China's foreign trade has begun to recover. However, "the prospects for foreign trade recovery must not be too optimistic", not only to see the complexity of the situation, but also to see the arduousness of the work.

He stressed that the foundation for the recovery of the world economy is not stable, and there are still many variables in the operation of China's foreign trade. During the year, export costs continued to rise rapidly, and export profit margins will further narrow. The trade friction situation is more severe, and various forms of trade protectionism are emerging one after another; export competition will become more intense.

Zhong Shan said that China will strive to stabilize foreign trade, maintain a stable recovery of foreign trade, and continue to consolidate its status as a major trading nation. He also said that the official will maintain a basically stable foreign trade policy and create a more relaxed and convenient policy environment for the sustained and stable development of foreign trade this year.

Yao Jian, a spokesperson for the Ministry of Commerce, said earlier this month that China hopes to restore exports to pre-crisis levels in two to three years.

According to customs statistics, in January-March, China's total import and export value was US$617.85 billion, up 44.1% year-on-year; the trade surplus was US$14.49 billion, down 76.7% year-on-year. Among them, the deficit in March was 7.24 billion US dollars, ending the 70-month surplus since May 2004.

Yao Jian said that according to preliminary estimates by the Ministry of Commerce, China’s trade surplus this year will be reduced by another $100 billion on the basis of a reduction of $100 billion last year.

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