China's export and import growth is anticipated to slow to around 7 percent year-on-year in the first two months of 2012 due to festival factors, Minister of Commerce Chen Deming said Wednesday.
Speaking at a press conference, Chen said he believes China will continue to see modest increases in foreign trade this year, with the situation likely to get better in the second half of the year.
Commerce Minister Chen Deming said Wednesday that the imbalance of trade figures between China and the United States is questionable and "should be rethought," as the volume of China's overall trade surplus was far below that of the United States.
Chen made the remarks at a press conference on the sidelines of the country's annual parliamentary session, citing figures that China's overall trade surplus exceeded 150 billion U.S.dollars last year, while that with the United States totalled more than 200 billion U.S.dollars.
The passage of a bill by the U.S. Senate to empower the Department of Commerce to impose countervailing duties on Chinese imports is not in line with international rules and must be corrected, Minister of Commerce Chen Deming said at a Wednesday press conference.
The minister's remark came after the U.S. Senate on Monday passed a bill to allow the Department of Commerce to impose countervailing duties on imports from China and Vietnam.
China hopes that the newly-established U.S. federal agency targeting "unfair trade practices" will operate transparently, Minister of Commerce Chen Deming said Wednesday.
China has noticed that the Interagency Trade Enforcement Center (ITEC) has been set up, said Chen at a press conference, adding that the country was willing to communicate with it under the WTO rules.
Minister of Commerce Chen Deming said Wednesday that most people working for Chinese projects in Syria have already evacuated from the violence-torn country.
Some 100 are staying there to look after their money, equipment, and projects, Chen said.
Minister of Commerce Chen Deming said Wednesday Chinese companies cannot return to Libya under the present security situation.
In accordance with international practise, China is requiring the Libya authorities to give compensation to Chinese companies which have suffered losses during the north African country's civil war last year, Chen said at a press conference on the sidelines of the annual session of the national legislature.