Trade still facing unstable factors
China’s cross-border trade still faces difficulties and unstable factors, but is looking better in the long term, according to a newly issued report by the Ministry of Commerce. Pressured by the struggling world economy and ever stronger protectionism in international trade, China’s crossborder trade in the first three quarters in total is down by 1.9 percent year-on-year, mounting 17.53 trillion yuan ($2.59 trillion). The growth rates of imports and exports both bounced up in the third quarter, resulting from a series of favorable policies to boost foreign trade. The report also showed that cross-border e-commerce, private enterprises and high-end manufacturing industry are becoming new driving forces of China’s cross-border trade. The cross-border trade overall is eyeing stable growth in 2017, the report said.