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China Daily Website

Restructuring is key to boosting trade growth

Updated: 2013-07-10 17:17
By Li Jiabao (

The ultimate solution to China's slowing foreign trade, especially exports, lies in transforming growth patterns and restructuring commodities, and the central government should devote more efforts to these aspects, Zheng Yuesheng, spokesman for the General Administration of Customs, told a news conference on Wednesday.

China's foreign trade growth slowed in the first half of the year to 4.3 percent year-on-year in the second quarter from the 13.5 percent in the first quarter.

Zheng targeted low competitiveness of Chinese exports but he insisted that China's trade performance in the first half of this year is still "the best among major world economies".

Yan Yan, an analyst with China Guangfa Bank, said now may be the worst time for China's foreign trade but the US recovery and easing currency appreciation pressure could see it rebound.