China confident of meeting 7.5% growth target

Containers are seen at a port of Shanghai Free Trade Zone  on Feb 11, 2014. CHINA is fully confident of reaching its target of 7.5 per cent growth in total trade this year, as its exports get a boost from the improving global economic outlook an
Containers are seen at a port of Shanghai Free Trade Zone  on Feb 11, 2014. CHINA is fully confident of reaching its target of 7.5 per cent growth in total trade this year, as its exports get a boost from the improving global economic outlook and a recovery in developed markets, its top commerce official said. -- FILE PHOTO: REUTERS

CHINA is fully confident of reaching its target of 7.5 per cent growth in total trade this year, as its exports get a boost from the improving global economic outlook and a recovery in developed markets, its top commerce official said.

Commerce Minister Gao Hucheng also said although emerging markets have recently slumped, their "economic fundamentals are still sound, and they have the ability to overcome difficulties...and gradually turn their economies around in 2014."

Mr Gao was speaking at a press conference on the sidelines of the annual parliamentary meetings in Beijing.

China, the world's largest trading nation, has already become the top partner with over 120 countries, Mr Gao said.

"China has made an outstanding contribution to the world's economic growth," he added, noting that the country's total trade value hit US$4.16 trillion (S$5.3 trillion) in 2013 - 12 per cent of the world's total trade. Of this amount, its imports made up almost US$2 trillion.

graceng@sph.com.sg

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