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: Bangladesh Bank

Apparel/Garments | On 22nd May 2018

Bangladesh Bank enhances EDF loan limit to $25 million

Bangladesh Bank has enhanced the loan limit under Export Development...

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Urmil Arya

Sushila International, a well established textile organisation established ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Paolo Ocleppo
Sandvik Hyperion

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sidharth Sinha
Sidharth Sinha

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search