China’s trade will “stabilise and improve” in the remainder of the year despite decline in the first two months, said Chinese Commerce Minister Gao Hucheng.

Mr Gao told reporters in Beijing on Wednesday – quoted by state-run news agency Xinhua – the fall in the first two months was due to weakening global trade and the Chinese New Year holidays. China’s trade plunged 12.6 percent from the previous year in January and February this year.

“Under the leadership of the central government, as well as the support of the provincial governments and trade enterprises, we are confident that [trade] will stabilise and improve,” he noted.

Asked why the government’s annual work report released on Saturday did not include a trade target for the year as usual, Mr Gao said it was difficult to make predictions due to the “uncertainties and risks” worldwide.