Exporters focus on domestic market

Exporters in the processing trade should expand sales in the domestic market to offset weakening overseas demand as the global market remains bearish in the second half, a senior trade official said on Tuesday.

"Global conditions have been challenging largely due to the still-sluggish demands in major developed economies," Jiang Yaoping, vice-minister of commerce, said at a press conference in Beijing.

Europe, which was the third-largest destination for China's processing-trade exports, saw a sharp decrease of 21.2 percent year-on-year in July's export volume, he said.

"We estimate the second half will continue to see a complex and rigorous external environment, but we will strive to accomplish the growth target set for this year," Jiang said.

China set a 10 percent target for export growth in 2012, but latest trade data don't provide much reason for optimism.

In the first seven months of this year, the export volume of the processing trade rose 4.4 percent, 3.3 percentage points lower than the increase in overall exports, according to the Ministry of Commerce.

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