Shen Danyang, spokesman for China's Ministry of Commerce (MOC), has told journalists attending a regular MOC news conference that China's foreign trade situation will be more complex in 2015.
First of all, the overall weak recovery worldwide continues as the global economy is in an adjustment phase after the international financial crisis, the MOC spokesman said. The IMF's latest estimation is for global economic growth of 3.8 percent in 2015, while its estimation is always higher than the actual growth, indicating that the outlook for the global economy might not be so optimistic this year.
Secondly, the Chinese domestic economy has entered its new phase of slow growth, which will exert a negative impact on the growth of imports.
Thirdly, as Mr. Shen stated, Chinese enterprises' low-cost advantage has weakened as capital goods and labor costs have indicated a surging trend in recent years.
Fourthly, China is the country which has faced the most trade protection measures for a total of 19 consecutive years, indicating that China faces a difficult external trade environment.
Last but not least, the MOC official concluded, the volatile situation in some regions might intensify, increasing uncertainties for international trade.