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China's trade misses target, but beats global WTO average: Beijing
CHINA'S trade performed comparatively well amid very weak external demand and rising costs, a Ministry of Commerce official said, reported Shanghai Daily.
"The performance is indeed an achievement given the slowing investment at home, an appreciating yuan and rising costs of operation," said Shen Danyang, a ministry spokesman.
The World Trade Organisation said global trade slumped 11.1 per cent in the first three quarters year on year. Brazil's trade sank 16.8 per cent, India's fell 16.6 per cent, the EU's shrank 12.8 per cent and Japan's declined 9.2 per cent.
China's trade fell just 7.9 per cent to CNY17.86 trillion (US$2.8 trillion) in the first three quarters. The drop was smaller than the global average, but it trailed the official target of six per cent growth for the year.
Many of the more than 6,000 Chinese traders surveyed by the ministry said they felt global demand was even weaker than that in 2009 when the world was struggling with the global financial crisis.
But Mr Shen said China "is set to keep its position as the world's biggest trader, with an increasing share in global trade".
"The performance is indeed an achievement given the slowing investment at home, an appreciating yuan and rising costs of operation," said Shen Danyang, a ministry spokesman.
The World Trade Organisation said global trade slumped 11.1 per cent in the first three quarters year on year. Brazil's trade sank 16.8 per cent, India's fell 16.6 per cent, the EU's shrank 12.8 per cent and Japan's declined 9.2 per cent.
China's trade fell just 7.9 per cent to CNY17.86 trillion (US$2.8 trillion) in the first three quarters. The drop was smaller than the global average, but it trailed the official target of six per cent growth for the year.
Many of the more than 6,000 Chinese traders surveyed by the ministry said they felt global demand was even weaker than that in 2009 when the world was struggling with the global financial crisis.
But Mr Shen said China "is set to keep its position as the world's biggest trader, with an increasing share in global trade".
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