1st LD-Writethru: Chinese official cautious on export growth
Xinhua, April 15, 2015 Adjust font size:
Chinese Vice Commerce Minister Zhong Shan on Wednesday warned that China's foreign trade may face a more difficult situation than expected.
"The foreign trade this year may be complicated and tough," Zhong said at the annual international Canton trade fair.
The Canton Fair, a barometer of China's exports, is expected to attract fewer buyers than last year, but the fair organizer expects trading volume to remain stable.
On Wednesday, China announced 7 percent GDP growth in the first quarter. Exports fell 15 percent year-on-year in March, but UBS Chief China Economist Wang Tao said investors should not over-interpret the weakness as trade data is volatile around Chinese New Year.
Xu Yufeng, Asia and Middle East vice marketing director of Trina Solar, said the falling euro, trade barriers of emerging countries and recent regional conflicts greatly affected China's export.
Chinese exporters, anticipating a tough environment, have been trying to increase sales by improving quality and exploring new markets.
Canton Fair's spokesman Liu Jianjun said companies with good brands and advanced technology are taking a bigger share, while small enterprises that lack core technologies are losing the customers.
Zhong said the Ministry of Commerce will introduce policy to help foreign trade and outbound investment. Endi