Chinese Foreign Trade Development Autumn 2014

The Chinese Ministry of Commerce (MOFCOM) released, on November 6, the Report on Chinese Foreign Trade Development (Autumn 2014). The report made a review on the performance of China’s foreign trade in the first three quarters, a forecast on the whole year of 2014, and a projection for 2015.
According to the report, China’s foreign trade development was faced with complex and challenging environment at home and abroad in the first three quarters in 2014, and China’s government introduced policies and measures timely to support the stable growth of foreign trade, which promote the steadily picking up of the export and import growth, as well as the improvement of quality and efficiency.
According to the comprehensive judgment of the report, the growth of China’s foreign trade in 2014 is still higher than the average growth of the global trade, and also higher than that of most major economies. In 2015, the international environment facing China’s foreign trade might be improved slightly, but the range of recovery is still limited. Risks and uncertain factors are prominent. The domestic environment will be steady generally, while the downward pressure still exists. China’s foreign trade development will face the following challenges in 2015: External demands will not see obvious rise, the competitive advantage transformation of China’s foreign trade will be in temporary shortage, and trade disputes will still be severe and complex.
The report points out that, faced with the complex situation of foreign trade development, China’s government will deeply implement the policies and measures to stabilize foreign trade growth and strengthen import, vigorously cultivate new competitive advantages of foreign trade, further improve facilitation of trade, optimize fiscal and financial services, efficiently combat trade disputes and strengthen development potentials of foreign trade.
Source: http://english.mofcom.gov.cn/article/newsrelease/significantnews/201411/20141100797634.shtml

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