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China faces mounting export pressure: commerce ministry

Xinhua, May 5, 2015 Adjust font size:

Amid the slow recovery of the global economy -- and some countries resorting to currency depreciation -- China is faced with mounting challenges, including how to boost exports, this year, said the Ministry of Commerce (MOC).

"The world economy is growing at an anemic pace, and the performance of consumption and investment is lackluster in many economies. Global trade growth lacks momentum," the MOC said in a report released Tuesday.

China's export competitiveness is facing headwinds on two fronts: High-end products from advanced economies like the United States are opening up new foreign markets; and exports of low and medium-end products from developing countries like India have grown fast over the past five years, noted the report.

Some countries have used currency depreciation to bolster exports and economic growth, which resulted in the forced appreciation of RMB, dimming the competitiveness of Chinese products, said the ministry. Endi