CHINA FUNDS. The Chinese government has offered to fund, through its official development assistance, important infrastructure projects, which the government is embarking on to address inadequacy.
BEIJING—China said Tuesday it faces a bleak foreign trade environment in 2013 due to ongoing global economic weakness, as the Asian export powerhouse appears set to miss this year’s trade growth target.
Beijing set its 2012 target for total trade growth at 10 percent, but admitted recently that it was unlikely to be achieved, blaming sluggish overseas demand, particularly in Japan and the debt-laden eurozone.
In the first 11 months of the year, total trade rose just 5.8 percent from the same period in 2011 to $3.5 trillion, with exports up 7.3 percent to $1.8 trillion, official data showed.
Shen Danyang, spokesman at the Ministry of Commerce, said at a regular news conference Tuesday that exporters in the world’s second-largest economy would probably have another tough year.
“Looking into next year, the global economic situation will continue to be complicated and uncertain, world growth is expected to remain low and trade protectionism in various forms is likely to strengthen,” he said.
“Therefore… there is no reason for optimism about China’s foreign trade environment and barriers that could keep foreign trade growth from rising steadily remain big.”
Shen said that trade friction between the world’s largest exporter and its major trade partners intensified this year, noting there have been 53 trade probes against China in 2012 worth $24.2 billion.
Last year, China came under 69 trade investigations worth $5.9 billion, according to previous government figures.