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China faces arduous task to achieve 2014 trade growth target

Published on May 20, 2014 10:49 AM
 

BEIJING (Reuters) - China faces an arduous task to achieve its 7.5 per cent trade growth target this year as the high growth period for its trade is over, a senior commerce ministry official said on Tuesday.

Zhang Ji, head of foreign trade department at the commerce ministry, also told a news conference that violence against Chinese firms in Vietnam could hurt bilateral trade.

Last week, China's cabinet announced a raft of measures to support the wobbly trade sector, including giving more tax breaks, credit insurance and currency hedging options to its exporters.

The government has set a target of 7.5 per cent growth for exports and imports this year. China missed its targets of 8 per cent in 2013 and 10 per cent in 2012.

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