Minister Downplays Speculations about Chinese Economy

%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20Commerce%20Minister%20says%20China%20remains%20the%20world%27s%20largest%20trading%20power%20despite%20the%20reported%20decrease%20in%20China%27s%20foreign%20trade.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EGao%20Hucheng%20made%20the%20remarks%20in%20response%20to%20a%20report%20by%20China%27s%20General%20Administration%20of%20Customs%20that%20the%20country%27s%20foreign%20trade%20declined%208%20percent%20in%202015.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHe%20said%2C%20%22China%20remains%20the%20world%27s%20largest%20trading%20power%2C%20with%20export%20growth%20ranking%20first.%20China%27s%20exports%20accounted%20for%2012.4%20percent%20of%20the%20world%27s%20total%20in%202014.%20I%20personally%20estimate%20the%20figure%20will%20increase%20by%200.8%20to%201.0%20percentage%20points%2C%20with%20the%20share%20in%20the%20world%20trade%20accounting%20from%2013.2%20to%2013.4%20percent.%22%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChinese%20officials%20have%20attributed%20the%20foreign%20trade%20decline%20in%202015%20mainly%20to%20falling%20commodity%20prices%20and%20sluggish%20demand.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EGao%20Hucheng%20said%20he%20was%20content%20to%20put%20the%20decreases%20reported%20in%20China%27s%20exports%20and%20imports%20down%20to%20China%27s%20on-going%20structural%20adjustments.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20biggest%20bright%20spot%20is%20China%27s%20transition%20from%20a%20large%20consumer%20goods%20exporter%20to%20a%20large%20quality%20consumer%20goods%20and%20capital%20goods%20exporter.%20We%20now%20see%20growth%20rates%20in%20manufacturing%2C%20capital%20goods%20and%20equipment%20exceeded%2015%20percent.%22%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EExperts%20say%2C%20China%27s%20economic%20transition%20has%20also%20led%20to%20the%20relocation%20of%20labor-intensive%20enterprises%20-%20some%20companies%20of%20this%20kind%20moving%20production%20to%20China%27s%20neighboring%20countries.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20minister%20said%20there%20was%20no%20need%20to%20be%20concerned%20and%20downplayed%20speculation%20about%20large-scale%20flight%20of%20foreign%20capital.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHe%20said%20foreign%20capital%20absorbed%20by%20China%20last%20year%20increased%205.6%20percent%20year%20on%20year%2C%20putting%20China%20top%20of%20the%20league%20among%20developing%20countries.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIn%20addition%2C%20foreign%20capital%20absorbed%20by%20the%20service%20industry%20and%20high-tech%20manufacturing%20industry%20increased%20more%20rapidly%2C%20the%20growth%20rate%20of%20which%20reached%2016.5%20and%208.5%20percent%20respectively.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28CRI%20English%29%3CBR%3E%3C/FONT%3E%3C/P%3E