Hone competitive edge

China should focus on cultivating its own brands and technology to gain the upper hand in international trade

Due to the complicated and changeable global economic situation and the contraction in external demand, China's top economic planner has lowered its expectations for the growth in foreign trade this year to 8 percent. There is little possibility of China enjoying expanded external demand given the poor prospects for global economic growth.

The International Monetary Fund has forecast the global economy will grow by 3.6 percent in 2013, an increase of only 0.3 percent on last year, and actual demand will grow by just 1.3 percent in developed countries, a meager 0.2 percent higher than the previous year.