(0110 CR M03)SEVERE EXPORT SITUATION IN 2012DATELINE: Jan. 10, 2012LENGTH: 00:01
:02CATEGORY: ECONOMYVOChina is facing an even more severe export situation featuring withered demand and harsher competition this year.Deputy Minister of Commerce Zhong Shan said so on Monday.Zhong said other major exporters will continue providing strong competition for China.And as domestic labor costs rise in the country, some developing countries are capturing market share in labor-intensive industries.Statistics show that China's export products to the United States, European Union and Japan had dropped by 1.3 percentage points, 1 percentage point and 0.6 percentage points respectively in terms of market share since the third quarter in 2011. Zhong added trade frictions involving China have also aggravated the situation since 2011.The frictions have even negatively impacted new and less labor-intensive industries such as communication and the photovoltaic sector.
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