Commerce Minister: China's exports stabilizing

China's Commerce Minister Chen Deming said on Tuesday the country's exports are gradually stabilizing.

Speaking at the Canton Fair, he also forecast China will be able to maintain its share in global trade this year, and might even be able to consolidate its position.

Chen Deming, Minister of Commerce, underlined that China's exports are currently facing three challenges. At the Canton Fair, he said shrinking external demand, increasing production costs and fierce international competition all make it hard to meet this year's export target. BUT, he said the whole picture still looks good.

Chen said, "Exports are gradually stabilizing. According to data, both exports and imports have been showing this trend from January to September. Exports in the first three quarters have increased about 7.4 percent, and the figure in September was 9.9 percent. Excluding the holiday effects, the general situation is stable now."

He also supported the State Council's fresh policy measures to stimulate export growth in four sectors, including customs, inspection, taxation and credit guarantee. Chen said these steps will show their effects in the fourth quarter.

Chen said, "We still have confidence in the future of the market. I think we should enlarge the market with confidence, and enlarge exports and imports at the same time. On that basis, we predict China's share in the global trade will not decrease this year. On the contrary, it may increase."

Chen also mentioned that the Commerce Ministry is following up with the implementation of those stimulative policies across the country. It will study the effects and boost export growth accordingly.