China concerned over weakening global economy

27 September 2022
2022-09-27 20:49

A senior Chinese commerce ministry official said a weakening global economy remains the "biggest uncertainty" for China's foreign trade in the second half of this year.

But, he added he is confident foreign trade would achieve positive growth in the second half of this year, and that it would contribute to the recovery of China's economy that has been hit by stringent COVID-19 measures and repeated closures of cities to fight virus outbreaks.

China's export growth weakened in August and imports shrank as high energy prices, inflation and anti-virus restrictions weighed on global and Chinese consumer demand. Growth in China has also been hit and is expected to drop to a projected 3.2% in 2022. Except the 2020 pandemic, this will be the lowest growth rate in China since the 1970s.

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