8-percent trade growth target needs efforts: spokesman( Xinhua) 16:50, November 19, 2013 BEIJING, Nov. 19 -- Strenuous efforts are needed if China is to meet its 8-percent tradegrowth goal as grim circumstances continue both home and abroad, a Chinese Ministry ofCommerce spokesman said Tuesday.
China is facing pressures from flagging external demand, rising overall costs at home andcutthroat competition externally, Shen Danyang told a monthly press conference.
In the first 10 months, China's total trade volume rose 7.6 percent from a year earlier,lower than the full-year target of 8 percent, customs data showed.
Shen said the recovery of external demand was still uncertain, as the InternationalMonetary Fund has cut its global economic growth forecast to 2.9 percent from theprevious 3.1 percent.
Domestic companies are still haunted by rising costs, partly due to the rapid appreciation ofChina's currency Renminbi, or the yuan, cutting into their profitability, the spokesmansaid.
The yuan's real effective exchange rate, a weighted average of exchange rates againstother currencies, surged 6.63 percent during the first nine months, Shen said.
Chinese exporters also face rising labor costs, while many small- and medium-sizedcompanies find it difficult or expensive to obtain loans.
Shen also said China has to meet increasing competition from other emerging economiesand developing countries, which are stepping up efforts of developing their export-drivensectors. These countries include Russia, Brazil and India among others.
"With strenuous efforts, it will not be totally impossible to attain the goal of 8-percenttrade growth," Shen said. （Editor：ZhangQian、Yao Chun） Related reading
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