The passive rise of yuan has significantly weakened the competitiveness of China's exports to the EU and Japan - the Ministry of Commerce

Almaty. June 19. Silkroadnews - In the second half of the year, in China's foreign trade expected changes for the better, but to achieve the intended plan for the annual foreign trade growth, it is necessary to take a series of effective measures. This was stated by spokesman of the Ministry of Commerce Shen Danyang, reported the agency Xinhua.
"Since the beginning of this year, China's foreign trade is in harsh environments. In particular, in terms of the export, country is influenced by three factors: the prolonged collapse in demand in the international market, weakening of the traditional competitive advantages of the country, as well as the significant devaluation of national currencies (against the US dollar) of the main countries importing Chinese goods", - says the publication .
As noted, in May of this year, China's exports to the US grew by 7.8% from the same month last year and amounted to 18.8% of China's total exports, while exports in the direction of other major trading partners of China - EU , Japan and the Republic of Korea - fell.
"Due to significant US economic recovery, China's exports to that country increased, but a passive increase in the price of the Chinese currency has significantly weakened the competitiveness of China's exports to the EU and Japan", - said Sh.Danyan.
He said that the Ministry of Commerce and other relevant departments are jointly developing measures to support foreign trade. They are mainly aimed at easing the burden on enterprises and will include a new round of reduction or withdrawal of contributions to the various export links, the solution of difficulties in the financing of business activities, the improvement of the foreign trade climate, further support of cross-border e-commerce.