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China’s foreign trade will achieve positive growth in the second half, despite depressed overseas demand, said the Vice Minister of Commerce.
Stalling overseas demand is the greatest uncertainty facing China’s foreign trade right now, as a result of cooling economic growth in major economies in Europe and North America, Wang Shouwen said at a press briefing. The country’s exports expanded 11.8% in August year on year, a slowdown from July’s 23.9%, according to official figures.
The value of China’s imports and exports grew 10.1% year over year in the first eight months to 27.3 trillion yuan ($3.78 trillion), he said
The ministry unveiled a raft of policies to help exporters further explore the overseas market, help them participate in overseas exhibitions sponsored by the Chinese government, facilitate the guarantees needed for staff to travel abroad, expand the scope of businesses that can take part in online event of the Canton Fair scheduled to open next month and extend the display period.
It will also support building overseas warehouses for cross-border e-commerce companies and speed up the issuance of tax policies to facilitate e-commerce companies’ refunds and swaps of goods sold overseas.