BEIJING: China's Ministry of Commerce said on Tuesday it was confident of achieving its targeted rate of growth in international trade in 2012 and that the second three months of the year would prove stronger than the first quarter.
Shen Danyang, the spokesman for the ministry, said China's first quarter exports, although weak, were better than expected, and China's exports and imports in the second quarter are expected to be stronger.
"We are still confident that we can achieve the trade growth target for this year," Shen said told a news conference. China has set a 10 percent growth rate for exports and imports in 2012.
China returned to an export-led trade surplus of $5.35 billion in March, heralding the prospect that a rebound in the global economy is lifting overseas orders just in time to compensate for a slowdown in domestic demand.
March imports grew 5.3 percent versus the same month a year ago while exports grew 8.9 percent. For the first quarter as a whole, the Customs Administration said the value of total exports was $430.02 billion, while imports were $429.35 billion - bringing the trade account roughly into the balance targeted by the government as it re-orients the economy away from a focus on foreign demand.
Source:
Economic Times
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