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China's trade to grow 8 pct in 2013
By Kim Young-gyo
HONG KONG, Dec. 30 (Yonhap) -- The trade volume of China will likely grow 8 percent in 2013, picking up from an expected slower growth this year, officials said Sunday.

   The Chinese Ministry of Commerce said the country's foreign trade next year will outperform an estimated 6 percent growth for 2012, as demand for Chinese exports slowly improves and China's domestic consumption steadily rises.

   China had set a 10 percent goal for foreign trade growth throughout 2012.

   "Our judgment holds that the international trade environment will remain challenging next year, and will thus take a more prudent move. We will attach more importance to improving the quality and efficiency of Chinese foreign trade next year," the ministry said.

   The commerce ministry said China's imports and exports are projected to top US$3.8 trillion in 2012.

   China's share in global trade increased to 11.1 percent this year from 10.4 percent in 2011, it added.

   Global economic uncertainties cut demand for Chinese exports as well as Chinese domestic demand for imports.

   During the first 11 months of this year, the world's No. 2 economy saw its foreign trade increase by 5.8 percent on-year to $3.5 trillion.

   In November, export growth slowed sharply to 2.9 percent on-year, compared with an 11.6 percent surge in October, while imports remained flat from a year earlier.

   The ministry said it will stabilize exports next year through extending tax rebates and expanding export insurance.

   "Exporters are encouraged to develop new competitive edges through building brands, research centers and international sales networks," Commerce Minister Chen Deming said earlier. "Imports of energy and resource products, advanced equipment, key parts and consumption goods will be expanded to balance foreign trade."

   ygkim@yna.co.kr
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