China Reports Fast Import/Export GrowthChina has achieved a fast growth in its import/export trade since beginning of this year. In the first eight months, it had achieved an import/export amount worth of US$ 301.7bn, up 36.7% over last, and as many as US$33.2bn, a rise of 30% against a previous drop, of foreign funds being actually used when compared with the same period of last year.As things stand with the Chinese economy, the country's foreign trade has been brought back onto the sound track of rapid growth irrespective of all ill effects of the Asian financial crisis produced in 1997. The Asian financial crisis broke out in the latter half of 1997. It first struck China's foreign trade, causing decreased export trade in 1998 against a succession of twenty years' growth. Due to a countrywide effort made it had been summarily brought to a check and began to pick up to show a monthly growth since July 1999. A US$194.9bn worth of exports was realized to show a 6.1% increase over the preceding year. This year a robust growth has been further achieved in China's import/export trade: Rising to a total of 40% growth, exports up 39%, imports up 41%, in the first quarter of this year. Things had even become all the more improved in the second quarter. Imports and exports for the whole year are expected to exceed US$ 400bn and with this there will be an increased amount of foreign corporate funds to be used by China for its coming accession to WTO membership in the days to come. |
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