China’s foreign trade might see a growth slowdown next year, but will manage a stable increase. That’s according to the Ministry of Commerce, in the last monthly regular press conference of the year.

Today’s briefing is also the first after the just ended annual Central Economic Work Conference. Besides trade, policy orientation for next year and anti-dumping tariffs on certain US cars are among the main focuses.

China’s foreign trade might see a growth slowdown next year, but will manage a
stable increase. That’s according to the Ministry of Commerce, in the last monthly
regular press conference of the year.

China’s total trade volume and import hit a new high in November. Total trade for the year had increased by over 23 percent, surpassing 3.3 trillion US dollars. But the monthly growth rate for export stood below 14 percent, a third month in a row that export growth has seen a decrease. Meanwhile, import growth has outpaced export’s.

Commerce Ministry spokesman Shen Danyang elaborated on other key features. Shen Danyang, spokesman of Chinese Ministry of Commerce, said, "The percentage of trade volume in the manufacturing industry has seen an obvious decline. Trade growth of the private enterprises has outpaced the average level. Exports to the European countries have maintained a weak momentum, but trade with emerging economies is growing rapidly."

Looking toward the future, China still faces severe challenges in international trade. Adding to the gloom is the financial uncertainty in the US and Europe. High unemployment and debt problems in the industrialized countries, and rising inflationary pressure in major emerging economies, have increased the risk of a hard landing of the world economy.

Shen Danyang said, "Due to the complicated economic situation world-wide, and its increasingly greater impact on China, we are very certain to say trade in the first quarter of next year is facing daunting challenges. We estimate there will be a slowdown of export growth for next year. But we are confident, with accelerating efforts in promoting economic restructuring and export-import balance, that we can maintain stable growth throughout next year."

Shen also briefed the media on direct investment China has made in the past 11 months, which totaled over 50 billion US dollars. A third of it was achieved through merger and acquisition.

The briefing comes just one day after the conclusion of the central economic work conference. The conference set the theme for next year’s economic and social development as "making progress while maintaining stability".