CHINA-ECONOMY/EXPORTS China commerce ministry says falling exports possible in coming months

Record ID: 143046

  • Title: CHINA-ECONOMY/EXPORTS China commerce ministry says falling exports possible in coming months
  • Date: 19th August 2015
  • Summary: BEIJING, CHINA (AUGUST 19, 2015) (REUTERS) CHINA'S COMMERCE MINISTRY SPOKESMAN SHEN DANYANG WALKING ON STAGE FOR REGULAR NEWS CONFERENCE CAMERAMEN (SOUNDBITE) (Mandarin) CHINA'S COMMERCE MINISTRY SPOKESMAN SHEN DANYANG SAYING: "Considering the factors that the base (of figure) of the same period in the second half last year was relatively higher and of abnormal growth in s
  • Embargoed: 3rd September 2015 13:00
  • Keywords:
  • Location: China
  • Country: China
  • Topics: General
  • Reuters ID: LVA38GME432ADH57XP9C5CRF8EP5
  • Aspect Ratio: 16:9
  • Story Text: EDITORS PLEASE NOTE: AUDIO AS INCOMING
    China's Commerce Ministry said on Wednesday (August 19) it cannot rule out the possibility of falling exports in the coming months, after an 8.3 percent plunge in July, their biggest drop in four months.
    "Considering the factors that the base (of figure) of the same period in the second half last year was relatively higher and of abnormal growth in some months, the possibility of exports seeing negative growth in some months can not be ruled out. But despite all this, we are still hopeful to see overall export growth for the whole year," the ministry's spokesman Shen Danyang told a news conference in Beijing.
    Shen also said that the country's foreign trade was faced with a more severe and complicated situation than expected.
    "Looking from the first half and the trend in the second half, the foreign trade will face more severe and more complicated situation than we expected," Shen added.
    China's economy is already under threat of deflation and struggling to revive bricks-and-mortar investment. It is officially targeted to grow by 7 percent this year, but some economists estimate it may be growing at closer to half that.
    Combined exports and imports for the first seven months of 2015 fell 7.2 percent from the same period last year, compared with Beijing's full-year target of 6 percent growth in total trade.
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