China's 2016 Exports May Face Sharper Decline
China export
Beijing - XINHUA
China's exports may continue to decline this year, probably at a sharper pace than the 1.8% drop in 2015. "Downward pressure on China's exports remains considerable," Vice Director of the Development Research Center of the State Council Long Guoqiang said in a statement carried by Xinhua news agency.
According to Long, weak external demand and protectionism against China weigh on the country's export growth. Rising labor costs also hurt China's traditional competitiveness. "Generally speaking, we are still transitioning from old advantages to new ones," said Long.
China's foreign trade plummeted 7% in 2015, falling short of the annual target of around 6% growth.
Source : XINHUA
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