China to export more to developing nations
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Xinhua, December 7, 2011
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Wang Shouwen, head of the Foreign Trade Department of the Ministry of Commerce |
China will look to export more to developing countries as demand from developed nations is unlikely to improve, a Chinese foreign trade official said Wednesday.
Wang Shouwen, head of the Foreign Trade Department of the Ministry of Commerce, said that China, the world's top exporter, will face "severe challenges" next year as demand from Europe and U.S. will not significantly recover and domestic production costs rise.
China's export growth had slowed in the past two months due to weakening international demand, Wang said.
Rising labor costs, the appreciation of the yuan and more expensive crude materials have also been hurting the country's exporters.
Wang said China's exporters will focus more on developing countries. The country will also quicken the pace of readjusting its foreign trade structure, support the brand-building, research and development, and introduce more sales channels for companies, Wang said.
"With these efforts, we believe China's exports will register good growth next year," Wang said.
