Testing period ahead as trade prospects sour
A downturn in exports during the first 11 months illustrates the unprecedented challenges facing China's foreign trade, with enduring severe export pressure predicted throughout this year and due to last until next year.
China's exports in November fell 3.7 percent year-on-year in yuan-denominated terms, which is worse than the 2.9 percent that experts predicted, according to figures released on Tuesday by the General Administration of Customs.
Against the backdrop of a weak global economic recovery and poor domestic and overseas demand, total exports from January to November fell by 2.2 percent year-on-year to more than 12.7 trillion yuan ($1.97 trillion), while imports dropped by 14.4 percent year-on-year to 9.37 trillion yuan, with the trade surplus widening by 63 percent to 3.3 trillion yuan, said the administration.