Difficult year ahead for export companies

Ministry of Commerce official cites weak global market, rising costs

BEIJING / SHANGHAI - China's exports, a major engine of the country's economy, may slow further next year on weakening demand in developed economies and rising costs at home, Ministry of Commerce officials said on Wednesday.

"Foreign trade is facing a severe situation next year," Wang Shouwen, head of the foreign trade department of the ministry, said at a news conference in Beijing as the ministry released a white paper on China's foreign trade.