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China foresees 'slight drop' in exports to EU

China foresees 'slight drop' in exports to EU

Updated: 2012-03-07 15:24

By Li Jiabao (chinadaily.com.cn)

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China anticipates "a slight drop of 2 to 3 percent" in exports to the EU the first two months of this year, said Commerce Minister Chen Deming. Exports to the EU slowed down during the second half of 2011.

The EU is China's biggest trade partner and China's biggest source of technology imports.

Europe's development is closely related to China and China's help to the EU has no conditions because helping the EU is also helping ourselves, according to Chen.

Chen said he is confident that the EU will get out of its current debt crisis.

"We are encouraging our companies to increase trade and investments in Europe because in addition to austerity, it is more important for the EU to promote employment and develop its economy," Chen said.