Wednesday, December 7, 2011

China warns of 'severe challenges' to exports to West

China faces "severe challenges" to its exports due to economic difficulties in key Western markets, the country's commerce ministry has warned.

Data due to be released on Saturday will show a sharp slowdown in export growth in November, the ministry said.

Sales to Europe and the US, which comprise about 40% of total exports, were not expected to recover next year.

The ministry said China would instead target exports to developing markets in Asia and Latin America. more