China's Foreign trade to fare better in 2013

China's foreign trade will fare better next year than in 2012, with the second half of 2013 outperforming the first six months, minister of commerce Chen Deming predicted on Wednesday. Chen made the comments at the ongoing two-day Caijing Annual Conference, which is hosted by the Beijing-based Caijing Magazine here. Chen said that a more accurate forecast will come after full-year figures for 2012 are released. Chen also warned that China's exports next year will face many uncertainties, adding that problems in foreign trade for China include the "fiscal cliff" in some countries, and whether budgets in some economic unions will be passed. Inflationary pressures may also appear after the economy picks up, Chen added. Trade ties with emerging markets, Chen said, will be China's focus, including those with the Association of Southeast Asian Nations, South America, Africa, and the neighboring Central Asia. Chen also said at the conference that China will accomplish its growth target it set earlier this year despite global economic headwinds. The country's trade share on the international market will remain stable and could be expected to rise, he said. The International Monetary Fund forecast in October that the world economy will expand 3.3 percent this year, down from its previous forecast. The World Trade Organization also cut its projection on this year's global trade growth from 3.7 percent earlier to 2.5 percent.