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China’s non-domestic trading remains under downside pressure this year on the background of low foreign demand and growth of protectionism in this sector, notes China’s Ministry of Commerce in a report released in previous week.
According to figures, one of the leading economics in the world faces growth of pressure from protectionism in external trading on the background of excessive production forces and reduction of trading.
There were fixed 37 trading investigations in China’s export in previous quarter, up by 55.6% from a year earlier. At that time, the most negative impact was put on steel sector. Moreover, China’s competitive power is under pressure of high labour cost and land cost.
Released figures approve also weak results of import and export in the previous month. Export fell in April by 1.8% versus April 2015 after growth by 11.5% in March. Import fell by 10.9% after fall by 7.6% in March.
China’s government announced on previous Monday a list of measures directed to accelerate export in the country – its main economic driver. The government asked financial organisations to increase crediting activity and projected to expand tax benefits for exporters. Moreover, the government promised to cut short-term insurance rates for export credits directed to secure exporters in case of non-payment of supplies by foreign clients.