China foreign trade status this year

China’s foreign trade still faced challenges, including from uncertainties in some developed countries and rising labor costs at home.

China importers and exporters are urging the government to reduce tax burden and issuing favorable policies to support SMEs growth.

According to statistics, foreign trade in the first two months of last year totaled US$495.83 billion, representing a 28.3 per cent year-on-year growth from 2010.

China's exports slowed from a year-on-year growth of 27.8 per cent in August to just 12 per cent in December.

American government increased duties on subsidized goods imported from China in a bid to protect American local job market. In fact, it is not in line with WTO rules.

American and Chinese currency exchange rate is still fluctuating so, Sino-US related parties should try to keep the exchange rate stable or fluctuate within certain range.

According to statistics, Hong Kong-founded manufacturers in the Pearl River Delta (PRD) region report a 10 percent hike in average wage this year compared with last year’s 11 percent.

Wages are still on an uprising trend in the manufacturing heartland on the mainland in 2012, albeit at a slower pace over last year.

A majority of companies expressed that higher productivity would help offset the rising labor cost.

Manufacturers such as SMEs strive to expand export, which can be achieved with the help of some B2B platforms.