BEIJING, March 2 -- "The financial crisis has not bottomed out yet, which may reduce the country's international trade markedly."That was a statement made by Chinese Vice Minister of Commerce Zhong Shan in Shanghai Sunday.

    He continued by saying China's foreign trade in 2009 was facing a severe situation.

    According to the General Administration of Customs, foreign trade topped 2.56 trillion U.S. dollars in value in 2008, but the year-on-year growth rate dropped below 20 percent for the first time in seven years.

    Zhong pledged that his ministry would further improve polices on the country's exporters to reduce their tax burdens and boost confidence.Xinhua News Agency correspondents reporting from Shanghai.

    (XHTV)