MOFCOM: Overseas demand rebound needs more time

2010-01-05 11:03:11 Author:phpcms Source: Views:0 User Reviews 0 Article

Assistant Minister of Commerce Lu Jianhua said at the 4th National Forum for Risk Management on December 29 that the foundation for a global economic recovery is not stable and more time is needed before there is a significant rebound for overseas demand. The employment situation in developed countries has deteriorated, and it is not easy to increase global investment and consumption substantially.

Lu said that the insurance policy financing business is developing rapidly. The China Export and Credit Insurance Corporation has cooperated with 117 domestic banks and is expected to provide about 130 billion yuan of insurance policy financing for enterprises in the entire year.

Looking forward to 2010, Lu said that since the outbreak of the financial crisis, countries have attached more attention to their domestic employment and industrial development. As a result, international cooperation desires have weakened, difficulties in coordination have increased and protectionism has become increasingly obvious. Meanwhile, exports face relatively huge pressures due to the intense competition on the international market. Fluctuations in the U.S. dollar exchange rate are likely to increase. Bulk commodity prices will remain at high levels and the operation risks for enterprises are unlikely to be lowered.

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