- CNTV English - CCTV News

China's trade growth slows in July

08-11-2010 08:42 BJT Special Report:China’s Economic Data for July |

Watch Video

Play Video

The General Administration of Customs shows China's foreign trade growth slowed in July. Analysts say the slower pace is due to the falling demand both at home and internationally.

In the first 7 months, China's foreign trade totalled 1.6 trillion US dollars, 40 percent more than the same period last year. The trade surplus contracted 21 percent, as growth in imports outpaced exports during the period.

In July, export growth slowed 5.8 percent compared to a month earlier. It was in line with an expected slowdown in economic growth in the United States and European Union. But officials are optimistic.

Huang Guohua, Official of General Admin. of Customs said "The growth in exports dropped a little, but is still above the global trade average, and its volume reached a historical high."

The official says the slowdown in imports was also expected, as a result of domestic macro-controls.

Huang Guohua said "The import figure is in line with our expectations. It's due to the macro-controls imposed by the government. The domestic economic growth cooled. Another factor is falling commodity prices, it also lead to the fall in the import figure."

But analysts are worried weakness in China's demand for imports could dent its ability to help drive a global recovery, amid Europe's debt crisis and slack sales elsewhere.

Editor:Xiong Qu |Source: CNTV.CN

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