Home / Knowledge / News / We hope to achieve double digit export growth rates - MoC
We hope to achieve double digit export growth rates - MoC
17
Mar '10
The Chinese Minister of Commerce, Chen Deming recently said that although, in the first two months of the current there was substantial increase of exports on a year-on-year comparison, the main reasons behind the increase were seasonal factors and refilling of inventory by Western countries.

It is noteworthy that, while year-on-year growth was substantial, total imports and exports in February fell 11.5 percent from the previous month, of which, exports declined 13.7 percent, imports dropped 8.9 percent.

The external market has not yet fully recovered, which leads one to believe that export situation is still extremely complex. February's trade surplus narrowed to less than US $10 billion and he does not rule out deficit in any of the months in 2010.

"China's trade surplus has been declining, and is also falling fast and current trade surplus will be confined to about five percent of China's GDP," Chen Deming said. He added by saying, other countries should not take trade surplus as an excuse for pushing appreciation of the RMB.

The Ministry of Commerce sets annual target of imports and exports this year and according to Deming, imports and exports of goods should realize an eight percent growth year on year, trade in services should achieve a 10 percent year on year. Relevant experts generally agree that the above-mentioned targets are relatively lower, when considering the low base levels of 2009.

Chen Deming explained that the growth target of China's foreign trade set by the Government is modest and hopes that this year's export growth should at least reach 8 –10 percent. There are uncertainties in the world economy, consumption in major Western economies is not ideal, unemployment rate is still high, saving rate is relatively low, and so it is difficult for China's exports to fully restore to those attained in previous years.

Fibre2fashion News Desk - China


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search