19 November 2012 04:55 [Source: ICIS news]
SINGAPORE (ICIS)--China will likely see growth in foreign trade this year slowing to around 6%, weaker than the rate of its economic expansion, the country’s Ministry of Commerce said on Monday.
The ministry was previously expecting around 10% growth in foreign trade, even when growth in the world’s second biggest economy is projected to decelerate to 7.5%.
But while slowing down, China’s foreign trade growth will still remain higher compared with the global average, the ministry said.
In October, China’s foreign trade increased by 7.3% year on year, with exports registering an 11.6% growth, according to official data.
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