Both domestic and foreign enterprises have shown their optimistic expectations at the Autumn Canton Fair and their confidence is returning, said Vice Commerce Minister Yi Xiaozhun.
He noted that foreign buyers' demand has increased significantly compared with the Spring Canton Fair held in April 2009. "China is seeing bright foreign trade prospects, but hard work is still needed," said Yi.
Although uncertainty still exists in the world economy, Yi showed high confidence in China's foreign trade. "China's export sector does not rely only on labor cost advantage," he said, adding that China has an integrated industrial system and outstanding independent R & D ability.
"Despite the severe impact of the global financial crisis, China's manufacturing sector can still gain a large share in the world market and grow rapidly as long as overseas demand exists," said Yi.
As for protectionism, Yi said that Chinese companies should try to overcome these challenges by boosting competitiveness rather than stand in fear of trade frictions and trade protectionism.
"China is firmly opposed to protectionism", said Yi. "The Chinese government will create a favorable trade environment for domestic companies through multilateral and bilateral communication and negotiation."
Editor: Miranda
By: Source: People's Daily website
