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China's exports under pressure: ministry |
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2011-11-18
BEIJING, Nov. 16 (Xinhua) -- China's exports are feeling pressure from global economic uncertainties, trade protectionism and rising domestic costs, the Ministry of Commerce (MOC) said Wednesday.
"We cannot be optimistic about the export situation during the coming period," MOC spokesman Shen Danyang said during a press conference.
He cited a downshift in global economic recovery, a downgrade of the U.S. credit rating and the spreading European debt crisis as exterior factors affecting China's exports.
Increasing inflationary pressure and the risk of a "hard landing" in major developing economies have also created uncertainties in global economic growth, he said.
Shen said frequent protectionist measures and trade disputes have had a "relatively large influence" on China's exports.
These issues, along with rising costs at home, have complicated the outlook for China's foreign trade, Shen said.
China's foreign trade in October fell 8.3 percent from September to 297.95 billion U.S. dollars, but still rose 21.6 percent year-on-year, according to official data.
October exports weakened 7.2 percent month-on-month to 157.49 billion U.S. dollars, while imports dropped 9.5 percent month-on-month to 140.46 billion U.S. dollars.
Source:Xinhua
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