Containers are unloaded from a ship at a port of Qingdao, East China's Shandong province, on Feb 17, 2020. (PHOTO / XINHUA)

BEIJING — China faces increasing downward pressure on foreign trade this year as the novel coronavirus pandemic has caused huge shocks to the world economy and global supply chains, an official with the Ministry of Commerce (MOC) said on Thursday.

The impact will be especially significant for small and medium-sized enterprises and labor-intensive industries

Gao Feng,  the Ministry of Commerce spokesperson

The impact will be especially significant for small and medium-sized enterprises and labor-intensive industries, MOC spokesperson Gao Feng told a regular press briefing.

He attributed the country's export rebound in April to various factors, including an uptick in domestic industrial production, a quick demand recovery in Japan and the Republic of Korea, and a stable ASEAN market.

ASEAN has become China's largest export destination, with exports to the bloc rising 3.9 percent year on year during the first four months, Gao said.

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The ministry will introduce more precise assistance measures in a timely manner, make every effort to stabilize foreign trade, and help all kinds of foreign trade enterprises to explore the global market, Gao said. 

Cooperation with B&R countries

China's commerce ministry said Thursday there is great potential for trade cooperation between China and Belt and Road countries.

Although the COVID-19 pandemic has weighed on economic and trade cooperation between China and Belt and Road countries, there is a solid foundation and great potential for further cooperation moving forward, Gao Feng, the Ministry of Commerce spokesman, said at a press conference.

China's trade volume with Belt and Road countries, which accounted for 30.4 percent of the total, rose 0.9 percent year on year in the first four months of the year to 2.76 trillion yuan (about US$388.73 billion), according to data from the ministry.

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The growth was compared with a 4.9-percent fall in the country's total foreign trade recorded during the same period.

Gao said China will continue to enhance cooperation with Belt and Road countries to jointly fight the epidemic and consolidate the sound momentum of economic and trade cooperation.