MOC: China’s foreign trade to continue improving in Q4

17 january 2013

BEIJING — China’s foreign trade will continue to pick up in the fourth quarter of the year, the Ministry of Commerce told Xinhua on Thursday.

Exports growth jumped to 9.9 percent year-on-year to $186.35 billion in September, up from 1 percent in July, and 2.7 percent in August, official data showed.

China’s foreign trade hit $2.84 trillion in the first nine months, up 6.2 percent year-on-year.

“In view of the economic situation home and abroad, the country’s foreign trade in the fourth quarter is expected to maintain the rebounding momentum that emerged in September and grow at the average speed seen in the first three quarters,” said Yao Jian, spokesman for the MOC.

However, Yao cautioned that China still faced a “grim and complicated environment” in foreign trade, saying global demand remains anemic while international competition and trade frictions were intensifying.

The sovereign debt crisis in Europe and a slow recovery in the US have sapped China’s exports, a major driver of growth in the world’s second largest economy.

Apart from boosting foreign trade, the MOC will continue to support the domestic consumption with various measures to facilitate distribution, crack down on counterfeits and develop e-commerce, Yao said.

Retails sales are likely to stabilize and improve further in the fourth quarter as government reforms promote fairer income distribution to benefit the poor, the social security network will continue to expand and the shopping season approaches, Yao said.