China Positive On Foreign Trade Outlook

- Apr 19, 2018-

BEIJING - China's foreign trade outlook remains positive despite seasonal fluctuations and uncertainty arising from protectionism, the Ministry of Commerce (MOC) said Thursday.

"The trend of steady development with a positive outlook for the country's foreign trade has not changed," MOC spokesperson Gao Feng told a press conference.

He said the trade deficit recorded last month was mainly due to the Spring Festival, which affected production and exports.

China posted a trade deficit of 29.78 billion yuan (about $4.75 billion) in March, the first monthly deficit since February 2017.

Growing global demand amid a recovering world economy, as well as China's sound economic fundamentals and supply-side structural reforms, will support foreign trade, Gao said.

The International Monetary Fund earlier this week forecast global economic growth of 3.9 percent this year. Last week, the World Trade Organization predicted global trade to remain strong, with merchandise trade volume expected to expand 4.4 percent in 2018.

However, unilateralist and protectionist actions by some individual countries have brought uncertainty to the global trade, had adverse effect on companies' expectations, and hurt the multilateral trade system, Gao said, adding China will work for sustained, healthy and balanced development of foreign trade.

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