China’s trade still faces relatively big downward pressure this year, customs spokesman Huang Songping said on Wednesday.
China trade still facing downward pressure this year
Officials in the country however assure of an improvement on the trend by making the exports cheaper and to ease debt burdens of major companies.
“The trade situation this year is still tough and complex and it still faces big downward pressure. But positive factors that could boost trade have been accumulating. China’s goods import and export this year are expected to stabilize and improve as all measures that are used to stabilize trade growth have been put in place with joint efforts from all sides,” said the spokesperson for China’s General Administration of Customs.
A customs data indicated that March exports blew past analysts expectations, rising 11.5 percent from 2015 while imports fell by 7.6 percent from a year earlier as well.
Huang said strong exports in March were in part due to a low base of comparison last year and supportive policies.
“Exports this March have shown significant growth compared to the low base last year. On the other hand, a favourable policy environment is also a reason for the export improvement,” he said.
China is sub-Saharan Africa’s largest export and development partner since 2013 and its trade crisis could also have resounding implications on the continent.