China to issue policies to boost exports

Following June's dismal trade numbers, China's Ministry of Commerce said at a press conference that the government will soon roll out new policies to stimulate export activities.

The "New Orders" sub-index of PMI has been in contraction mode for 4 straight months as of June making it harder for China to meet its export target for the year. Here's what Shen Danyang, spokesman of the Ministry of Commerce had to say about China's current export environment.

"Given the complexity and gloominess in today's export dynamics, we face a difficult challenge to accomplish this year's export target. Stabilizing our exports is not only important for stabilizing the domestic labor market and raising incomes it's also important for the global recovery." Shen Danyang, Spokesman of Ministry of Commerce said.