Debt crisis a threat to growing exports

BEIJING - Despite the unexpected jump in July exports, overseas demand for Chinese goods remains shaky in the face of debt problems in the United States and the European Union, said Li Rongcan, assistant minister of commerce.

"The business environment both at home and abroad for Chinese manufacturers is very complicated and unstable and there are still many uncertainties," Li told the China Top 500 Foreign Trade Enterprises Forum 2011 in Beijing on Friday.

"The slowdown of the global economic recovery is making the growth of Chinese exports slow down, and the overlapping of the sovereign debt crisis with the US and euro bloc is adding turbulence to the world financial market," he said.