Worse than July and below 1% reports MNI , citing unnamed source close to the Chinese commerce ministry.

  • China’s government has “underestimated ” the impact of the European debt crisis on trade flows.
  • China’s export situation is” not very optimistic ” as there is little prospect of a global economic recovery.
  • It may be difficult to reach the trade growth target of 10% this year if the European market remains sluggish, the report cites Cheng Yongru, a div. director in the commerce ministry.
  • Cheng sees export grow at 8% this year, according to the report.