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'Unprecedented' difficulty for China in stabilising 2022 trade
来源：Shipping News Headlines 编辑：编辑部 发布：2022/01/10 09:37:43
CHINA faces "unprecedented" difficulty in stabilising trade next year as favourable conditions that boosted export growth in 2021 year won't be sustainable, according to a commerce ministry official, Bloomberg reported.
Export gains may slow as competing countries recover their production capacities and as inflation that pushed up export values gradually eases, Ren Hongbin, vice minister of the commerce ministry, said at a recent briefing in Beijing. Last year's rapid export gains also make the base of comparison higher for 2022, he said.
China will enhance trade companies' awareness and ability to manage foreign-exchange risks, according to Mr Ren. The government will also step up efforts to ease pressures from international logistics and supply chain problems, he said, vowing to actively ensure the supply of commodities.
?œWe will make every effort to keep foreign trade running within a reasonable range," the official said. These cross-cyclical measures are meant to help stabilise trade in early 2022, he said. He expected China's goods imports and exports to grow more than 20 per cent in 2021 to a total of US$6 trillion.
Mr Ren's comments echo concerns raised earlier week by Commerce Minister Wang Wentao, who said it will be hard for China to keep its trade growth stable next year.
China's exports have stayed resilient throughout last year, providing some support for an economy that's been weighed down by regulatory crackdowns and repeated virus outbreaks. Overseas shipments have posted double-digit gains in every month last year, with an exception in February when shipments jumped 155 per cent from a year-earlier slump.
But the outlook for trade is less certain, as overseas appetite for Chinese goods is set to weaken if the global economic recovery loses steam. Chinese exporters are also battling high raw material prices, as well as surging labour and freight costs.
Export gains may slow as competing countries recover their production capacities and as inflation that pushed up export values gradually eases, Ren Hongbin, vice minister of the commerce ministry, said at a recent briefing in Beijing. Last year's rapid export gains also make the base of comparison higher for 2022, he said.
China will enhance trade companies' awareness and ability to manage foreign-exchange risks, according to Mr Ren. The government will also step up efforts to ease pressures from international logistics and supply chain problems, he said, vowing to actively ensure the supply of commodities.
?œWe will make every effort to keep foreign trade running within a reasonable range," the official said. These cross-cyclical measures are meant to help stabilise trade in early 2022, he said. He expected China's goods imports and exports to grow more than 20 per cent in 2021 to a total of US$6 trillion.
Mr Ren's comments echo concerns raised earlier week by Commerce Minister Wang Wentao, who said it will be hard for China to keep its trade growth stable next year.
China's exports have stayed resilient throughout last year, providing some support for an economy that's been weighed down by regulatory crackdowns and repeated virus outbreaks. Overseas shipments have posted double-digit gains in every month last year, with an exception in February when shipments jumped 155 per cent from a year-earlier slump.
But the outlook for trade is less certain, as overseas appetite for Chinese goods is set to weaken if the global economic recovery loses steam. Chinese exporters are also battling high raw material prices, as well as surging labour and freight costs.