China expects trade to grow at similar pace to GDP

China said on Wednesday that it expects foreign trade to grow at a similar pace to the economy this year, indicating a feeble pickup from 2012.

"Our target this year is... to try to keep foreign trade increasing at a rate that is roughly in accordance with GDP growth," Shen Danyang, spokesman of the Ministry of Commerce, told reporters at a regular briefing without giving a specific figure.

China had declared it wanted to see trade grow by 10 percent in 2012, but last week announced expansion of 6.2 percent for the period, missing the target.

That was a marked slowdown from 2011, when trade increased 22.5 percent.

The world's-second largest economy is yet to announce its goal for economic growth this year. But Beijing has set a target of 7.0-percent average annual growth for the five years through 2015.

The median forecast in an AFP survey of 15 economists for economic growth this year is eight percent.

The government has mainly blamed the sluggish recovery of the world economy and rising trade protectionism for the country's failure to meet last year's trade target.

Shen cautioned that the situation this year would remain challenging.

He said China still "faces so many difficulties" including insufficient overseas demand and an unhealthy trade environment that would be "hard to turn around".

"So the general situation for foreign trade will remain severe in 2013," he said.

Follow @YahooMalaysia on LINE for daily news updates.

Comments on Yahoo pages are subject to our link to Comments Guidelines. You are responsible for any content that you post. Yahoo is not responsible or liable in any way for comments posted by its users. Yahoo does not in any way endorse or support comments made by its users.

  • MH370 passenger’s partner tells of strange email from sacked Fox officer The Malaysian Insider
    MH370 passenger’s partner tells of strange email from sacked Fox officer

    The partner of an American passenger aboard the missing Malaysia Airlines flight MH370 has spoken about how a Fox executive who was recently sacked by the news station had contacted her offering to raise funds on her behalf. Sarah Bajc, whose partner Philip Wood is among the 239 people on board the missing plane, told the Sydney Morning Herald... …

  • My last moments with Pa: Ramkarpal Singh The Malaysian Insider
    My last moments with Pa: Ramkarpal Singh

    A week after the tragic crash that took the lives of veteran lawyer and politician Karpal Singh and his personal aide, Michael Cornelius, his son Ramkarpal recounts the final hours with his father that fateful day. This is his story, as told to V. Anbalagan, assistant news editor. “My parents (Karpal and Gurmit) had gone to Pantai Hospital... …

  • In Disney's shadow, homeless families struggle Associated Press
    In Disney's shadow, homeless families struggle

    KISSIMMEE, Fla. (AP) — When they moved from Georgia to the theme park playground of central Florida four years ago, Anthony and Candice Johnson found work at a barbecue restaurant and a 7-Eleven. Their combined salaries nevertheless fell short of what they needed to rent an apartment, so the couple and their two children have instead been hopping among cheap motel rooms along U.S. 192. …