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MoC denies of survey to assess impact of Yuan revaluation
23
Mar '10
Yao Jian, Spokesperson of the Ministry of Commerce denied reports that, the ministry had started conducted a survey of the impact of the Yuan appreciation on industry.

However, he said, industry associations have approached the ministry for taking its opinion on the matter and there was no truth in the reports that the ministry was conducting stress tests on labour intensive sectors like textiles and leather.

“In 2009, China's export-oriented enterprises experienced falling profits and contracting sales revenues and currently, they are still in the recovery phase”, Yao noted.

China will keep stabilizing its foreign trade policies, such as exchange rate, export tax rebate, trade facilities and export credit insurance policies, he concluded.

Fibre2fashion News Desk - China

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