Guangdong export value growth-rate slides

21 Aug '08

2 min read

According to customs statistics, in the first seven months of this year, the export value of Guangdong Province reached US $224.93 billion, representing year-on-year rise of just 13.6 percent. This is much lower increase than China's average growth-rate of 22.6 percent.

Guangdong authorities informed that this slowdown has mainly resulted from weak clothing exports, which make up for majority of shipments.

Provincial Government promised to issue many support schemes and plans in the second half of this year, especially focusing on local export enterprises.

Authorities announced that they planned to add to this year's financial aid of 230 million yuan, so that it touches 700 million yuan by the end of 2008.

Reportedly, over 230 yuan will be used to support the local export enterprises relating to textile and clothing sector, footwear, bags and accessories as well as other such traditional, labour intensive products.

Of this, 160 million yuan will be used in giving the local export enterprises some allowance to deal with the difference of export rebate, whereas 50 million yuan will be used to help them explore new export markets.

Government hopes that these measures would help raise the growth-rate of local export value to almost 25 percent in the second half of this year.

Fibre2fashion News Desk - China

More Textiles News - China...