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Minister: Foreign trade likely to drop in Feb

By Xin Zhiming and Jiang Wei (chinadaily.com.cn)
Updated: 2009-03-10 11:13

Minister of Commerce Chen Deming attends a press conference on "Boosting domestic demand, increasing employment and sustaining economic growth" held by the Second Session of the 11th National People's Congress (NPC) in Beijing, March 10, 2009. Minister of Industry and Information Technology Li Yizhong and Minister of Human Resources and Social Security Yin Weimin also attended the press conference. [Xinhua]

China's imports and exports are predicted to decrease in February after declines since late last year, Commerce Minister Chen Deming said.

He told a press conference during the annual session of the National People's Congress the prospects for the country's trade volume are expected to be severe in the coming months.

The country's trade volume decreased 9 percent year-on-year in November, 11 percent in December and 29 percent in January. The figures for February are expected to be released as earlier as today.

Chen said exports of processing trade decreased faster than general trade, exports from coastal areas decreased faster than from the inner areas and exports of electronic products and machinery decreased faster than light industrial products.

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Minister: Foreign trade likely to drop in Feb