- CNTV English - CCTV News

Homepage > News > Biz >

China can meet 2012 foreign trade target: MOC

06-26-2012 21:49 BJT

BEIJING, June 26 (Xinhua) -- The Ministry of Commerce (MOC) said Tuesday that China can achieve its 10-percent growth target for exports and imports in 2012 if the global economy does not worsen further.

Exports and imports rebounded in May and trade growth has maintained good momentum in June, MOC spokesman Shen Danyang said at a regular press briefing.

China's imports and exports grew 14.1 percent year on year to 343.58 billion U.S. dollars in May, breaking its monthly trade record set in November 2011, when foreign trade amounted to 334.11 billion U.S. dollars.

Shen said rising labor and raw material costs, shrinking external demand and worsening trade conditions dragged down China's export growth for the first five months.

China's exports to the European Union, its largest trading partner, dropped 0.8 percent year on year during the January-May period, with exports to Germany, France and Italy falling 3.4 percent, 3 percent and 25.1 percent, respectively.

Waning domestic demand, moderation in processing trade and falling global commodity prices slowed China's import growth during the first five months, Shen said.

Foreign direct investment (FDI) in China edged up 0.05 percent year-on-year to hit 9.23 billion U.S. dollars in May, ending continuous declines for six consecutive months, according to MOC statistics.

The slight FDI rebound last month showed that foreign investors have sped up the pace of decision-making and investing in China, Shen said, adding that multinational companies remain upbeat about China's market.

Editor:Zhang Jianfeng |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program