China’s external environment poses serious challenges to trade: minister

By Joe Cash

BEIJING, March 2 (Reuters) – Pressure on China’s imports and exports will increase dramatically this year, Commerce Minister Wang Wentao said at a news conference on Thursday, three days before parliament’s annual meeting.

The risk of a global recession is increasing, China’s external environment poses serious challenges, and the risk of weakening external demand is increasing, he added.

China’s commercial exports fell sharply in December, recording a 9.9% year-on-year export contraction, extending November’s 8.7% decline, according to the latest official data from the National Bureau of Statistics.

Wang acknowledged that some foreign companies are currently considering investing in countries other than China, but described it as “a special phase”, adding that “in the long term, the Chinese market remains a ‘must’ rather than a an option'”.

The American Chamber of Commerce in China released its annual business confidence survey yesterday, in which most companies said China was no longer seen as “one of the top three investment priorities” for China. first time in the survey’s 25-year history.

Chinese Vice Minister of Commerce Chen Chunjiang touched on trade relations with the United States, reiterating that “China is willing to hold sincere consultations with the United States to ease restrictions on bilateral trade and investment.” in response to a question about the state of China. trade relations with the United States.

Shipments from China to the United States fell 19.5% in December, according to Reuters calculations based on official data, reflecting weakening demand.

China and the United States “must create a stable and predictable business and economic environment to enhance business trust and cooperation,” Chen added.

(Reporting by Shen Yan and Joe Cash; Spanish edited by Flora Gómez)