GRIM OUTLOOK FOR CHINA TRADE, SAYS MINISTER

BEIJING, March 10 (Bernama) -- China is facing a "grim" outlook in its foreign trade due to uncertainties in the global financial crisis and possibly more issues, Commerce Minister Chen Deming said Tuesday.

Chen said February trade figures, to be released by the Customs bureau soon,
was "still in downward territory".

"There are still uncertainties in the downturn, many issues have yet to
emerge. There are difficulties in European countries, we will still see a grim
picture in the coming months," he told a media conference on the sidelines of
the annual legislative National People's congress.

Chen reiterated China's opposition to trade protectionism, adding that the
government would help Chinese exporters obtain trade financing.

Premier Wen Jiabao said this week the world's third largest economy would
not slacken efforts to boost trade even as it sought to boost domestic demand to
counter dwindling exports.

Chen said China still had enormous consumption potential because of the
sheer size of its market, including the 800 million rural population.

He said domestic consumption grew steadily in the first two months of the
year and "in the foreseeable future, we will be able to see rather rapid growth
in consumption".

Among the key measures taken by the government are subsidies for farmers to
purchase household electrical products like waterheaters and microwave ovens,
and encourage more countryside stores to be opened.
-- BERNAMA