'China's foreign trade to touch $4.8 trillion'
Friday, 6 January 2012
BEIJING, Jan 5 (AFP): China's commerce ministry said Wednesday the nation's foreign trade was due to grow at an annual rate of 10 per cent to reach $4.8 trillion by 2015, as it issued development goals for the next four years.
The prediction comes as authorities in the world's second largest economy try to shore up domestic demand as crises in the United States and Europe impact the export-dependent Asian powerhouse.
"Annual growth in imports and exports of goods will be around 10 per cent, and will reach $4.8 trillion in 2015," the ministry said in a statement.
This compares with the $2.97 trillion-worth of foreign trade recorded in 2010, the state-run Xinhua news agency said, quoting official data.
Retail sales, meanwhile, will grow around 15 per cent annually to reach 32 trillion yuan ($5.1 trillion), the commerce ministry said.
The prediction comes as authorities in the world's second largest economy try to shore up domestic demand as crises in the United States and Europe impact the export-dependent Asian powerhouse.
"Annual growth in imports and exports of goods will be around 10 per cent, and will reach $4.8 trillion in 2015," the ministry said in a statement.
This compares with the $2.97 trillion-worth of foreign trade recorded in 2010, the state-run Xinhua news agency said, quoting official data.
Retail sales, meanwhile, will grow around 15 per cent annually to reach 32 trillion yuan ($5.1 trillion), the commerce ministry said.