China Faces a Tough Year in Exports

Photograph by Philippe Lopez/Getty Images

Speaking before Chinese and foreign reporters on the sidelines of the ongoing National People’s Congress on March 7, Chen Deming, China’s trade minister, stressed the challenges ahead. Beset by global economic troubles, rising domestic labor costs, and tightening at home, China’s growth in exports may reach 7 percent this year, with imports up slightly more, year on year, compared with the 20.3 percent and 24.9 percent jumps in 2011. China will likely achieve this year’s overall trade growth target, said Chen, but only with “arduous efforts.”

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