China Trade Growth Slowed in 2014, Growth Target for 2015 Lowered

iFeng: 2014外贸增速未达标 “一带一路”成新增长点

Zheng Yue sound at a news conference that in 2014 foreign trade growth below expectations, primarily due to three factors: the slow recovery of the world economy; China's comparative advantage in low-cost continues to weaken and developed market investment in Chinese manufacturing fell; the international market rapid decline in commodity prices.

Growth targets down for 2015:

Zheng Yue sound, said foreign trade growth in 2015 will be higher than in 2014. "As for foreign trade growth in 2015 is expected indicators may have to wait until March of the 'two sessions' on to get official confirmation."

However, "China Daily" reported previously, the Minister of Commerce Gao in the national business work conference that China has 2015 foreign trade growth target for 2014 down from 7.5% to 6%.

In this regard, Bai Ming said that in the transition period should be more aggressive in foreign trade growth target. China has been the pursuit of foreign trade growth stage, based on the current industry structure, but also for the high growth in foreign trade has been unrealistic.

Bai Ming believes that the current main task is to adjust the structure, speed up transformation and upgrading of foreign trade growth mode. "If the growth rate of foreign trade also the first place, it is likely to affect the transformation and upgrading of the effect in the transition of foreign trade, the data may not look good, but after this stage, playing a solid basis for the transformation and upgrading of the quality of foreign trade to a new level. "

Moving up the value chain is one way to go, but if the global economy weakens, trade barriers could become a bigger issue.