皇冠体育app

BEIJING - The Ministry of Commerce said Tuesday that 皇冠体育app can achieve its 10-percent growth target for exports and imports in 2012 if the global economy does not worsen further.

Exports and imports rebounded in May and trade growth has maintained good momentum in June, MOC spokesman Shen Danyang said at a regular press briefing.

皇冠体育app's imports and exports grew 14.1 percent year-on-year to $343.58 billion in May, breaking its monthly trade record set in November 2011, when foreign trade amounted to $334.11 billion.

Shen said rising labor and raw material costs, shrinking external demand and worsening trade conditions dragged down 皇冠体育app's export growth for the first five months.

皇冠体育app's exports to the European Union, its largest trading partner, dropped 0.8 percent year-on-year during the January-May period, with exports to Germany, France and Italy falling 3.4 percent, 3 percent and 25.1 percent, respectively.

Waning domestic demand, moderation in processing trade and falling global commodity prices slowed 皇冠体育app's import growth during the first five months, Shen said.

Foreign direct investment in 皇冠体育app edged up 0.05 percent year-on-year to hit $9.23 billion in May, ending continuous declines for six consecutive months, according to MOC statistics.

The slight FDI rebound last month showed that foreign investors have sped up the pace of decision-making and investing in 皇冠体育app, Shen said, adding that multinational companies remain upbeat about 皇冠体育app's market.