The Ministry of Commerce (MOFCOM) released China's Foreign Trade Report (Spring 2012) on April 27, reviewing China's foreign trade performance in 2011 and in the first quarter of 2012, and analyzing the outlook of China's foreign trade development in 2012.



According to the Report, 2011 is the first year of China’s 12th Five-Year Plan period, and China's foreign trade maintained a steady and balanced development on the whole, with import and export hitting a record high, and China’s position as a trading power was further consolidated, trade structure was further optimized, and trade balance was further improved. And in the first quarter of 2012, China’s foreign trade growth saw a significant slowing down due to reduced demands in international market as well as rising costs in domestic market.



The Report noted that in 2012, there are some favorable conditions and positive factors for China's foreign trade to maintain steady development, but with the increasing challenges and difficulties, as well as the complicated factors restricting China’s foreign trade development, the situation is not optimistic. All factors considered, China's foreign trade growth in the second quarter of 2012 will remain steady and low, and will maintain a steady growth on the whole in 2012, while but the growth rate will fall compared with that of 2011, trade balance will be further improved



The Report pointed out that confronted with the complicated environment in China and abroad, China's foreign trade will adhere to progressing in a steady manner, and focus on stabilizing growth, adjusting structure and promoting balance. On the one hand, it is necessary to stand from the present, and maintain overall stability of foreign trade policies, implement supportive policies, and overcome such difficulties as lack of orders, rising costs and increasing frictions, so as to maintain steady export growth. On the other hand, we shall focus on long-term perspective, and strengthen efforts on foreign trade structure adjustment as well as transformation and upgrading, accelerate the transformation of foreign trade development mode, and enhance sustainable development of foreign trade.