BEIJING, June 18 (Xinhua) -- China will have to overcome many difficulties in order to achieve the 8-percent foreign trade growth target set for 2013, Shen Danyang, spokesman for the Ministry of Commerce, said Tuesday.
The sharp slowdown in foreign trade growth seen in May reflects the grim and complicated trade outlook for 2013, Shen said at a press conference.
China's foreign trade growth slowed sharply in May, partly due to government rules to curb capital inflows disguised as trade payments.
Exports inched up just 1 percent year on year to 182.77 billion U.S. dollars, while imports declined 0.3 percent to 162.34 billion U.S. dollars, according to customs data.
Shen said the rising yuan and weak external demand have negatively impacted exports, citing a survey of more than 1,000 companies that account for roughly 8 percent of China's total exports.
Some 73.4 percent of respondents blamed the rapid appreciation of the yuan for decreasing export demand, while 72.6 percent cited subdued overseas demand as a major contributor to the slowdown, according to Shen.
Around 83.7 percent reported narrowing profits, with average profit margins for the surveyed companies coming in less than 3 percent, Shen said, adding that their struggles will have a negative impact on exports in the following months.
Regarding imports, Shen pointed out that soft strength in the domestic economy and slumping international commodities have limited import growth.
"Generally speaking, China's foreign trade growth outlook this year will be relatively severe," he said.
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