China confident of foreign trade growth in 2014

Commence Minister Gao Hucheng speaks when meeting the press on business affairs and opening-up at the ongoing two sessions on March 7, 2014. [Photo by Wang Jing/China Daily]

China is confident of achieving 7.5 percent foreign trade growth target in 2014, said Commence Minister Gao Hucheng.[Special coverage]

Gao said China has yet to become a strong trading power as most of its foreign trade products are low value-added and the country has yet to foster more independent brands.

China accounts for 12 percent of global trade volume and is now the largest trading partner of 120 countries, he said.

China needs to speed up industrial restructuring, Gao added.