China H2 Foreign Trade Growth Forecast to Slow

BEIJING, July 19 -- The State Information Center predicted in a report that the growth of China's imports and exports will slow down in the third and fourth quarter of this year, China Securities Journal said Monday.

The report said that the growth rate of imports will gradually decrease to about 19.3 percent in the second half and hit a low for the year in the fourth quarter due to high base figures of the last quarter of 2009. It forecast a 33.6 percent whole-year growth over last year.

Exports will grow at about 16.3 percent in the second half, due to high base figures, the European debt crisis and adjustment to the country's export tax rebate policy, the report said, adding that the growth rate for this year will be around 24.5 percent year-on-year.

The report said that the country's imports and exports have recovered to their levels before the world financial crisis. With a shrinking trade surplus, China's foreign trade is more balanced. The country is increasing its exports to other emerging markets and reducing its reliance on major trade partners such as the United States, according to the report.