China’s Spring 2014 Foreign Trade Report

On May 4, Chinese Ministry of Commerce released China’s Foreign Trade Report (Spring 2014), reviewing the country’s foreign trade performance in 2013 and in the first quarter of 2014, and analyzing the outlook of foreign trade in 2014.

The report analyzed that in 2013, faced with severe and complicated domestic and overseas environment, the Chinese government timely promulgated policies and measures bolstering import and export, stabilizing economic growth and readjusting economic structure, which boosted enterprises’ confidence, and facilitated foreign trade in scale expansion, share increasing and structure optimization. In 2013, China became the world’s largest goods trader. In the first quarter of 2014, China’s import and export saw year-on-year decrease mainly due to the high base of 2013.

According to the report, the recovery momentum of global economy will improve in 2014. China’s economy had a steady start, and conditions are ready to realize the steady growth of foreign trade. Yet there remain many difficulties and challenges for China’s foreign trade, and the severe and complicated situation cannot be underestimated. In 2014, China’s import and export are expected to maintain stable growth without great changes in the external environment.

The report pointed out that in the coming period, China will further implement the policies of stabilizing foreign trade growth, improve trade facilitation, create a more flexible environment for foreign trade enterprises, explore new areas of export growth, raise the added value of exports, optimize foreign trade structure, and expand the import of products in short supply at home, so as to realize the sustained and healthy development of foreign trade.

Source: http://english.mofcom.gov.cn/article/newsrelease/significantnews/201405/20140500576583.shtml

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