BEIJING (Pakistan Point News / Sputnik - 17th November, 2022) China's foreign trade would face increasing pressure in the fourth quarter due to growing instability and uncertainty in the global market, a spokesperson for the Chinese Ministry of Commerce said on Thursday.
"With the beginning of the fourth quarter, the external environment has become more complicated and tense, uncertainty and instability have increased, and insufficient foreign demand has become a significant challenge," Shu Jueting told a briefing.
Shu also noted that the growth rate of China's imports and exports had decreased over the past several months due to the geopolitical situation and another wave of COVID-19. China's further external trade will "face additional pressure," according to the spokesperson.
Chinese exports and imports increased by 11.1% and 3.5% over the first 10 months of 2022 despite a growing global economic instability and difficult political situation in the world, the country's General Administration of Customs said earlier in the month, noting, however, that China's external trade in October had decreased by 8.7% compared to September.
