China Faces Stern Export Situation in Next Four Months

China is expecting a possible decline in export growth in the remaining months of the year, Sun Zhenyu, Chinese Vice Minister of Foreign Trade and Economic Cooperation, said in Beijing on Wednesday.

"The export situation may be even worse than the first half of this year," Sun said at a press conference.

The terrorist attack in the United States has first affected its tourism, stock markets, retail sales and transportation sector and also depressed domestic demand. China will not avoid the negative impacts of the US economic slump, especially exports of China-made electronic products, Sun said.

The country's export volume totaled US$124.57 billion in the first sixth months of the year, up 8.8 percent over the same period last year. But the country's exports declined 0.6 percent in June, the first negative growth since the beginning of this year.

From January to August, China's total foreign trade volume reached US$330.53 billion, up 9.6 percent from the same period last year.

The foreign trade administrations are working with the administrations of customs, taxation, commodity inspection and banks to create a more favorable situation for export-oriented enterprises, he said.

(People's Daily 09/20/2001)