CCTV9英语新闻：Mofcom: trade pressure to ease in March

China’s foreign trade has been under immense pressure this year because of economic threats at home and overseas. But a spokesman for the Ministry of Commerce said at a press conference this morning that the situation will begin to ease later this month.

 

China’s foreign trade had a rough start this year. Total volume for the first two months dropped 17.4 percent year on year. Worst of all was February’s exports, which fell 14 percent more than in the previous month. Ministry of Commerce Spokesman Shen Danyang says February’s poor performance was due to seasonal factors and shouldn't be an indication for China’s trade in 2016.

 

“2015’s February had a very large base for this year’s to compare with. In fact, February 2015 posted the strongest export growth since 2009. Therefore, this February’s number should not be used as a benchmark for the whole year. Trade will probably stabilize after March,” Shen said.

 

Still, Shen said 2016's challenges are not to be underestimated.

 

“Internationally, 35 major economies posted a combined 14-percent trade volume decrease last month. At the same time, commodity prices kept falling. Domestically, costs for companies have been rising and investments have slowed,” he said.

 

The government is expected to roll out specific measures this year to lead consumption back to China and also give more incentives to exporters.

 

“This year we will work on a payment and fee positive list for import items, optimize our export tax rebate scheme, expand trade credit insurance, and encourage cross-boarder e-commerce,” said Shen.

 

Shen says China’s competitive advantage in trade have not changed and officials are confident that the country will remain on the top among the world’s trading powerhouses through innovation and upgrades.