China’s foreign trade contains ‘unsustainable’ elements: Government white paper

A white paper released by the Chinese government in Beijing today says that China's foreign trade was still unbalanced and had ''unsustainable'' elements.

The document released ahead of a briefing, said export growth was still energy- and resource-intensive and shipments had ''insufficient'' technology and innovation content.

According to the paper, China would foster new competitive advantages centring on technology, branding, quality and services and would work to promote industrial transformation and upgrading.

The government would ''vigorously'' develop trade in services to promote balanced development with trade in goods according to the note.

Meanwhile, a senior official said today that China intended to focus on exports expansion to emerging markets and enhance its competitiveness, in the backdrop of the bleak outlook for global trade and its own rising costs.

Speaking at a news conference, Wang Shouwen, director general for foreign trade for the ministry of commerce, said he did not expect a rebound in demand next year from international markets, and Europe in particular.