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The risk of slowing external demand is expected to increase and its foreign trade development is facing increasingly complex environment and rising uncertainties as the global economy and trade is expected to lose momentum in the fourth quarter, said the Ministry of Commerce on Thursday.
The growth of global trade of physical goods has slowed to 16.6% in the second quarter from the 19.5% growth on the previous quarter, showed data from the WTO, and due to high inflation and high inventories in some major economies, their import demand was further curbed, the ministry said.
Since the second half of the year, Chinese authorities have stepped up efforts to stabilize foreign trade and a series supportive measures have been gradually implemented, and meanwhile local governments have also unveiled policy measures to support foreign traded, it said.
“We will make efforts to maintain foreign trade within a reasonable range, achieve the goal of maintaining the stability in foreign trade,” said the ministry.