Chinese govt to take measures as export growth dips

15 Dec '11

2 min read

Faced with continuous fall in growth of exports, the Chinese Government will take measures to prevent further declines, the Ministry of Commerce said.

The proposed steps include establishment of 59 export bases, helping exporters in western and central regions to expand their foreign markets, supporting exporters to explore and tap new markets and strengthening the country's traditional industries.

During a meeting on foreign trade, Chinese Vice Minister of Commerce Zhong Shan said the export conditions would be tougher in 2012 and it will become difficult for the Government to sustain stable export growth.

The latest figures released by the General Administration of Customs reveal Chinese exports increased by 13.8 percent year-on-year in November, which is the smallest rise since 2009.

The Vice Minister stated that the Government would lay emphasis on helping exporters to promote their goods in emerging markets, particularly those countries that have abundant natural resources and large populations.

According to data, although the emerging nations account for a smaller proportion of Chinese exports compared to developed nations, their economies are growing at a faster pace.

For instance, in 2010, China's exports to four countries – the United States, South Korea, European Union and Hong Kong – accounted for 36 percent of the country's total exports.

In comparison, its exports to four emerging markets – Brazil, India, Russia and South Africa – made up just 7 percent of overall exports, though these economies grew faster than the economies of developed countries.

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