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Last updated at: (Beijing Time) Tuesday, March 05, 2002

China Faces Stern Export Situation This Year

China still faces a grim export situation this year, confronting some uncertain factors, Yu Xiaosong, chairman of the China Council for the Promotion of International Trade, said at a press conference in Hong Kong on April 4.


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China still faces a grim export situation this year, confronting some uncertain factors, Yu Xiaosong, chairman of the China Council for the Promotion of International Trade, said at a press conference in Hong Kong on April 4.

According to Yu, China posted some growth in foreign trade in the first two months of this year. But in general, the figures at the beginning of the year cannot tell fully the year's situation.

US economic recovery remains uncertain
This year will see not a very optimistic view over the world economy. On the matter of US economic recovery, some optimists think it has started to recover while some others believe that it remains uncertain and will be clear not until this June or next year. Therefore, China still faces a grim export situation because export constitutes an important factor for GDP growth in China, and the grim situation will also restrict the rapid economic growth.

Middle-east situation damages world economic development
In addition, the acute Middle-east situation damages the world economic development. The business communities of both Hong Kong SAR and China��s mainland expect an improved situation. Only peace can help promote development, Yu said.

China's Exports Grow 14.1 Percent in Jan., Feb.
China's foreign trade reported an 8.8 percent increase, hitting 75.73 billion U.S. dollars-worth, in the first two months of this year, according to figures just released by the General Administration of Customs.

The statistics show that China's exports and imports in January and February increased to 40.84 billion U.S. dollars-worth and 34. 89 billion U.S. dollars-worth respectively, up 14.1 and 3.2 percent year-on-year.



By PD Online Staff Huang Ying


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