Trade experts say China needs another round of decisive measures to put its export growth on a firmer footing in 2015, amid declining demand in major foreign markets.
In December 2014, China's foreign trade value hit 2.49 trillion yuan, an increase of 4.2 percent from a year earlier. The leading export index slid for the third month to 40.1 in December 2014, the lowest since December 2013, signalling a more pessimistic picture for exports in the first quarter of 2015, the GAC data showed.
But the structure of trade in 2014 showed positive signs, and the outlook for 2015 will be brighter as the global economy picks up, giving more leeway for Chinese policymakers to push through their reform agenda to balance the economy. Total trade grew 3.4 percent from a year earlier in dollar terms, undershooting its annual growth target of 7.5 percent, data from the General Administration of Customs (GAC) showed on Tuesday.
Sun Yuanjiang, deputy director-general of the department of international trade and economic affairs at the Ministry of Commerce, said since the FTAAP involves lengthy preparations and negotiations, China will work with all parties concerned to conclude negotiations on the regional comprehensive economic partnership before the end of this year to boost trade volume with the ASEAN markets.
