China’s foreign trade fundamentals have not changed despite mounting downward pressures, according to a report issued by the Ministry of Commerce on May 10.
Given tepid global demand and increasing trade frictions, China will continue to face a difficult situation regarding foreign trade this year.
However, increased support from the government will help import-export businesses, the report said.
Weak global demand and a slowing domestic economy have dealt a blow to foreign trade, which fell 7 percent year on year in 2015. Exports were down 1.8 percent and imports down 13.2 percent.
However, the report noted that foreign trade has improved in the past two months. Exports surged 18.7 percent year on year in March and 4.1 percent in April.
The State Council has put forward a series of measures to pep up foreign trade, including stronger financial support for enterprises, more cross-border e-commerce pilots and bigger incentives to encourage companies to establish international marketing networks and their own brands.