Business / Economy

Ministry confident of stable trade growth in 2015

(Xinhua) Updated: 2015-01-21 17:27

BEIJING - China's exports and imports are expected to maintain "moderately stable" growth in foreign trade in 2015, Ministry of Commerce spokesman Shen Danyang said on Wednesday.

Shen spoke about how new trade advantages in technology, brand, quality and services would be nurtured in 2015.

"China's promotion of the Silk Road belt and road initiatives, the establishment of free trade zones, as well as a boom in trans-border e-commerce are likely to be contributing factors," he said at a monthly press conference held in Beijing.

However, Shen acknowledged, foreign trade would continue to suffer from the effects of worldwide economic recovery, downward pressure on the domestic economy, rising corporate costs and an uncertain geo-political environment.

"In terms of external demand, as a result of the financial crisis, the global economy is still in a restructuring period, as such, recovery remains weak. This poses many uncertainties," Shen said at a monthly press conference held in Beijing.

"Internally, the economy is in its 'new normal' state and downward pressure on growth continues. Slowing investment and economic growth are expected to further curtail imports," Shen said.

Meanwhile, the traditional low-cost advantages of Chinese exports are fading and trade subsidy investigations against Chinese exports are rising, according to the official.

Amid those challenges, foreign trade only increased 3.4 percent in 2014 denominated in US dollars, significantly lower than the 7.6 percent rise in 2013 and the 7.5 percent target.


Hot Topics

Editor's Picks