Date
15 December 2017
The country's trade figures have repeatedly fallen short of expectations in the second half of this year, providing more evidence that the economy may be facing a sharper slowdown. Photo: Bloomberg
The country's trade figures have repeatedly fallen short of expectations in the second half of this year, providing more evidence that the economy may be facing a sharper slowdown. Photo: Bloomberg

China trade growth seen missing 2014 target

China’s trade will grow 3.5 percent this year, below the country’s current 7.5 percent official growth target, Reuters said, citing a report on the Ministry of Commerce website that was later revised to remove the numbers.

The initial ministry report, quoting Minister Gao Hucheng, was replaced with a new version that had identical wording but with all the numbers and percentages removed, the news agency said.

The country’s trade figures have repeatedly fallen short of expectations in the second half of this year, providing more evidence that the economy may be facing a sharper slowdown, Reuters said.

Foreign direct investment for 2014 is estimated at US$120 billion, according to the earlier version of the report, in line with official forecasts. Outward non-financial investment from China could also come in around the same level.

That would mark the first time outward flows have pulled even with inward investment flows in China, and would imply a major surge in outward investment in December given that the current accumulated level stands slightly below US$90 billion.

Retail sales growth would be around 12 percent for 2014, in line with the current average growth rate, the earlier report said.

In a separate report, the Chinese Academy of Social Sciences forecast real estate prices in Chinese cities would continue to slide next year, with third- and fourth-tier cities hit hardest.

But the market would have a soft landing as local governments take action to provide further policy support to the market, the CASS said.

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CG

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