Zhang Ji, director of the foreign trade department of
China's Ministry of Commerce (MOC), has stated that
China's foreign trade has been experiencing a difficult period since the beginning of the year, adding that it is a difficult task for
China to achieve its foreign trade growth target of 7.5 percent for the current year.
Mr. Zhang stated that data issued by
China's customs authorities indicate that in January-April this year
China's imports and exports indicated declines on year-on-year basis, something which has not happened in the past decade except in 2009 due to the financial crisis.
According to Zhang, there are several difficulties causing declines in
China's imports and exports. Firstly, the recovery of developed countries has been slow, contributing to the sluggishness of international demand. Secondly, competition in the international market has intensified; with America and Europe focusing more on investing in domestic manufacturing industries rather than investing in overseas facilities. Thirdly,
China's traditional advantage has been weakened due to rising costs. Fourthly, financing has become difficult, especially for medium and small-sized enterprises. In addition, trade protectionism has become more frequent, while greater political instability has been observed worldwide.