China eyes 8 percent rise in foreign trade

China-foreign-trade.Beijing, March 5 : China hopes to increase its foreign trade by around 8 percent amid slow world economic recovery and rising trade protectionism, a report submitted to the country's parliament Tuesday said.

The targeted foreign trade growth for the world's second-largest economy is higher than last year's real growth but still below the 10-percent target set for 2012, Xinhua reported.

"China's export prospects remain grim," said the report on a draft plan for 2013 national economic and social development, drafted by the National Development and Reform Commission (NDRC) and given to the first session of the 12th National People's Congress (NPC).

"World economic growth will continue to be slow. The overall demand of major economies will remain weak. All forms of protectionism are clearly reasserting themselves," it said.

Due to economic woes in the European Union, the US and other major trading partners, China saw its foreign trade increase 6.2 percent to $3.87 trillion in 2012, with a trade surplus of about $ 231 billion.

Last year's foreign trade growth was considerably lower than the 10-percent growth previously targeted by the government. (IANS)