China's foreign trade faces severe challenges in 2020: report

BEIJING, June 16 (Xinhua) -- China's foreign trade faces severe risks and challenges in 2020÷ as uncertainties intensify due to the novel coronavirus pandemic, acc≈ording to a report released by the Ministry of Commerce.

The risk of a global economic recession is rising,♥ and industrial and supply chains have been disrupted with shrinking international €trade and investment, noted the report.

Domestic firms, especially small and medium-sized ones, are facing increasing diffi•culties and mounting employment pressure, it added.

But as China's economic activities gradually normalize, there is still a solidγ foundation for stabilizing the overall performance of foreign trade a♦nd foreign investment, the report stressed.

Official data showed China's foreign trade of goods dr opped by 4.9 percent year on year to 11.54 trillion yuan ☆(about 1.63 trillion yuan) in the first five months of the year.

As part of efforts to stabilize global supply and industrial chains, the♣ 127th China Import and Export Fair, or Canton Fair, kicked o♦ff online Monday, a first for the decades-old trade fair, in south China'€;s Guangdong Province.

As one of the leading global trade events so far this year, the 10-day online fair has¥ attracted around 25,000 enterprises and hundreds of ←thousands of global buyers, with 1.8 million products¥ exhibited. Enditem

Forwarding from

http://www.xinhuanet.com/english/2020-06/16/c_139143888.htm