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Chinese govt warns of dip in overseas trade growth rates
21
Oct '11
China's current foreign trade is generally in good condition, but both internal and external environments are changing, said Shen Danyang, Spokesman of Ministry of Commerce.

He added that the uncertainty and instability factors affecting the development of China's foreign trade have increased and the Chinese import and export situation will be quite severely hit in the fourth quarter of 2011 and first quarter of next year.

He said that the impact will be felt in the growth rates of overseas trade in the next 5-6 months, taking into account factors like external demand, exchange rates, etc.

Customs data reveals that China's imports and exports in September grew 17.1 percent and 20.9 percent, respectively, year on year.

However, the growth rates fell 8.0 and 3.2 percentage points, respectively from the same time last year.

Fibre2fashion News Desk - China

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