Nation 'able to maintain' share of global trade

The country's imports and exports grew by less than 7 percent in the first 10 months, making it almost impossible to reach an annual growth rate of 10 percent, Minister of Commerce Chen Deming said on Friday.

"China's exports in September grew 9.9 percent and rose a bit more than 11 percent in October, but this only suggests a lukewarm recovery and I think it is very difficult to achieve the annual target of 10 percent (trade growth) for this year," Chen told reporters.

But the world's second-largest economy will still be able to maintain or even slightly increase its share of the global trade volume in 2012, the minister said on the sidelines of the ongoing 18th National Congress of the Communist Party of China in Beijing.

International trade was valued at about $16 trillion last year, of which China contributed 10.1 percent, according to Chen.

Global trade looks set to shrink this year, as the debt crisis festers in Europe, international markets languish and some other developed economies experience difficulties.

"We expect to keep our proportion (of the global trade volume), or even see the share increase," the minister said. "This is something we can achieve."

Zhang Yansheng, secretary-general of the academic committee of the National Development and Reform Commission, said it is not easy for China to maintain its global trade market share, considering the severe situation of China's exports.

"We see many exporters are shifting to tap the domestic market, and we also see some foreign companies are decreasing or withdrawing investment plans," Zhang said.

Foreign affairs

Chen was among dozens of high-ranking government officials who gathered at the Great Hall of the People to discuss the political report delivered on Thursday by Hu Jintao, general secretary of the Central Committee of the CPC.

At the end of their discussion, they answered questions from reporters.

Following Chen, Foreign Minister Yang Jiechi expressed hope that the relationship between China and the United States, one of the most important bilateral ties in the world, will continue to make inroads after US President Barack Obama's re-election.

"China and the US share important interests and have some fundamental disparities," Yang said.

"We think that the two countries can continue to develop their relations for the common interests of the peoples of the two countries as well as of the world," Yang said.

For their relations to grow, it is important to discard both the "zero-sum" concept and the Cold War mentality, and to observe the historical communiques and statements the two sides have released or made, he said.

Talking about the dispute over the territorial sovereignty of some islands and reefs affiliated to the Nansha Islands in the South China Sea, Yang reiterated that the disputes should be properly settled through talks.

"Before they are resolved, (all parties concerned) should put the disputes aside and jointly develop the area," he said.

He also stressed that China's determination to safeguard territorial sovereignty should never be "underestimated".

"We think that all relevant parties should keep contact, and in doing so the countries concerned should have sincerity, like China has," he said.

The foreign minister also said that, overall, China's relations with its neighbors are good and are developing.

"China is ready to make concerted efforts with all other countries in the Asia-Pacific region to build a region of prosperity and stability on the basis of equality and mutual benefit," he said.