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Dec. 7 (Bloomberg) -- China will face severe challenges in its foreign trade next year, Wang Shouwen, head of the foreign trade department of the Commerce Ministry said.
The decline in export growth reflects cooling external demand, the impact of yuan appreciation and rising labor, land and raw material costs, he said at a briefing in Beijing today.
China is unlikely to see any fundamental change in its trade situation next year he said. Still, the nation can achieve a “considerable level” of export growth if the Europen financial crisis doesn’t get out of control. China will also focus more on exports to emerging markets, he said.
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