China April foreign trade drops 10.9%

QE measures stimulated the EU's sluggish economy but there is still a long way to go, while robust recovery in the United States faces uncertainty in monetary policy, Zhou said.

Liu pointed out that goods trade for past two years had created huge market share for "Made in China" products, which will be difficult to elevate further.

As China has entered a "new normal" phase, marked by slower but better growth, the central government has been at pains to move the economy away from growth that relies heavily on investment and exports.

China's economic rise over the past two decades was backed by enormous capital investment and exports supported by a cheap labor force, but that cannot last forever.

The economy grew 7.4 percent in 2014, a 24-year low. The official growth target this year is a record low of around 7 percent.

China has a full "tool kit" at its disposal and will use it if growth nears the lower end of the range, Premier Li Keqiang said in early March.

Booming new industries, faster upgrading and central strategies will provide opportunities for foreign trade rebounds.

The State Council, China's cabinet, on Thursday released a guideline on e-commerce development, to foster new growth drivers amid the economic slowdown.

The booming e-commerce industry has helped stimulate consumption and investment, and the government is pinning its hopes on the sector to create jobs and facilitate the ongoing process of industrial upgrading, as another fresh impetus for exports, according to observers.