China's foreign trade goal hard to attain this year: minister15:16, November 10, 2012
BEIJING, Nov. 9 (Xinhua) -- China looks unlikely to meet the 10-percent growth goal for foreign trade set early this year due to the European debt crisis and shrinking external demand, Chinese Minister of Commerce Chen Deming said Friday.
The pessimistic prediction by the minister came at a panel discussion on the report by Hu Jintao to the 18th National Congress of the Communist Party of China.
"Even though our year-on-year export growth rate rebounded slightly to 9.9 percent in September and 11 percent in October, it remains very difficult for us to achieve the 10-percent foreign trade growth target for the whole year," Chen said at the panel discussion open to the press.
The failure, if eventuates, will be a setback for China's foreign trade ambition, although the difficulties were forecast in March this year when Premier Wen Jiabao said in his government work report that China aimed to increase exports and imports by around 10 percent year-on-year in 2012.
The targeted foreign trade growth is a sharp slowdown from the 22.5 percent year-on-year increase last year when China became the world's second-largest importer after it took over Germany as the world's biggest exporter in 2009.
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