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Import & export growth-rate recovers

22
Oct '08
China has had to face several difficulties since the beginning of this year, from severe natural disasters to international economic crisis, leading to struggling trade and business.

However, experts believe that due to Government's swift moves to adopt series of macro-control measures, country has been able to maintain steady development.

China's gross domestic product achieved around 20.16 trillion yuan in the first three quarters, a year-on-year increase of 9.9 percent, but down 2.3 points in growth from the same time last year.

From January to August this year, large-scale industrial enterprises realized a total profit of over 1.86 trillion yuan, up 19.4 percent from the same period last year.

In the first three quarters, total investment in fixed assets realized 11.6246 trillion yuan, 27 percent over that of corresponding period of 2007. Nevertheless, this marked a 1.3 percentage point higher growth-rate.

Export growth rate somewhat declined but foreign direct investment increased significantly.

In the first three quarters, total imports and exports reached US $1.9671 trillion, a year-on-year climb of 25.2 percent, 1.7 percentage points higher in growth-rate over the same period last year.

Among them, export value registered $1.074 trillion, a hike of 22.3 percent, but down 4.8 points in growth. Import value totaled to $893 billion, recording a rise of 29 percent, and 9.9 points higher in growth-rate.

Trade surplus realized $181 billion, a decline of $4.7 billion from the same time last year.

In the first three quarters, actual use of foreign investment marked $74.4 billion, 39.9 percent surge, and 29.0 percentage points higher in growth-rate from the same period last year.

Fibre2fashion News Desk - China


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