China Still Faces Grim Trade Outlook: Minister

China still faces a grim trade outlook, and "if lucky" it will be able to achieve its annual target of 10 percent growth in exports and imports combined this year, Commerce Minister Chen Deming said in remarks published on Monday.

Despite slowing growth at home and abroad, Chinese export and import growth both surprised on the upside in May, with exports rising 15.3 percent and imports up 12.7 percent last month from a year earlier.

"The trade situation is still relatively grim afterwards, and if lucky, we will be able to keep annual growth of around 10 percent," the official Xinhua news agency paraphrased Chen as saying.

Exports grew 8.7 percent in the first five months from a year earlier, while imports rose 6.7 percent.

Read Full Article from CNBC.com

- Posted: 2012-06-11 16:04:26

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