News & Reports News Year 2012 August , 2012 Premier urges export growth

Premier urges export growth

PREMIER Wen Jiabao said China should carry out targeted efforts to steady export growth so the country can hopefully meet this year's economic and social development goals.

During an inspection tour on Friday and yesterday to the southern province of Guangdong, the country's major exporter of goods, Wen said China should place high attention to the difficulties and uncertainties facing exports, which had taken a hit from the global economic headwinds.

"The third quarter of the year is a critical period for China to realize the year's export growth target and we should take targeted steps to stabilize growth," Wen said.

China aims to expand foreign trade by 10 percent this year.

Wen's latest remarks came as export growth slowed sharply in July to a six-month low following dwindling demand from Europe and Japan.

Exports rose a mere 1 percent year-on-year to US$176.9 billion in July, plummeting from the 11.3-percent growth seen in June, official data showed.

During the trip, Wen visited several companies in the cities of Guangzhou, Foshan and Dongguan, where he asked them to push forward structural adjustments, increase input in fostering innovation and make diversified strategies to adapt to the export markets.

Wen said that judging from the new export indexes, China's export outlook will continue to be clouded by difficulties.

Figures released earlier by HSBC showed that China's manufacturing activity continued to struggle in August as orders overseas declined at their sharpest rate since March 2009.

Earlier this month, Wen said during an inspection tour of east China's Zhejiang Province that China is capable of meeting its economic and social development goals for the year.