In 2016 Chinese export volumes may fall, experts say

Almaty. August 22. Silkroadnews – This year Chinese export may continue to decline with the rates of decline growing, «Xinhua» agency reports.

«China's exports still experience a significant restraining effect», Long Guoqiang, Vice President at Development Research Center of the State Council of China, says.

The official explains supply reduction with low demand in foreign markets and protectionism against the Chinese goods. In addition, with labor costs increase China is losing its traditional advantages relative to other exporters.
«Generally speaking we still move from our former advantages toward the future ones», Long Guoqiang said.

At the end of 2015 China's foreign trade fell by 7%, while the reduction forecast stood at 6% only. The rate of decline in exports amounted to 1.8%. In March of this year China published the report of the government saying in 2016 the authorities were planning to stop the trends of foreign trade reduction.