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Vice-Premier Wang Yang underlines trade stabilization

Updated: Oct 18,2016 7:28 AM     Xinhua

GUANGZHOU — Vice-Premier Wang Yang called for intensified efforts to support companies expanding in overseas markets for trade recovery.

China’s trade situation has met expectations on the whole and the positive long-term trend has not changed. But the foundation for trade stabilization for the better is still not solid, and downward pressure remains big, said Wang at a national foreign trade work conference in Guangzhou.

China’s trade showed signs of stabilization in the third quarter, with exports and imports gaining growth of 0.4 percent and 2.1 percent respectively, while those for the first half recorded falls, customs data showed.

In the first three quarters, foreign trade was down 1.9 percent from a year earlier, narrowing from a drop of 3.3 percent during the first half.

Looking into the last quarter, Wang said the government should consolidate the positive momentum and stabilize the share in the global market.

To ensure long-term trade growth, China will support the innovative development of processing trade, and corporate efforts of building brands and marketing networks, and encourage the export of products with high added value, Wang added.