China Financial Daily

Export engine of Guangdong Road, local pick up is still a long recovery
From a wide range of the latest statistics show that China’s economy as the most important “export engine,” said the processing and manufacturing in Guangdong Province to curb the export of the first half of the initial momentum of continuous decline, the overall monthly to a good, local warming trend.

However, government officials and the market here said that the global market demand has yet to be resumed, increasing pressure on export prices down, the rise of protectionism in international trade and many other factors, the third quarter is expected to Guangdong exports growth will remain negative until the fourth quarter before monthly year-on-year is expected to achieve positive growth, and the annual export situation is very grim prospects for recovery are still not optimistic.

July 20 released statistics show that in June this year, Guangdong import and export value of 257.87 billion U.S. dollars, compared with the same period last year dropped by 20.7%. 153.42 billion U.S. dollars, including exports, dropped 18.6 percent; imports 104.45 billion U.S. dollars, down 23.7%, to achieve a surplus of 49.38 billion U.S. dollars of foreign trade.

Director, Office for Foreign Trade and Economic Cooperation of Guangdong?ҫ΄said, whether the export or import and export, import, the first half of the indicators in Guangdong were less than the national decline, and to promote Guangdong’s share of total exports in 2008 increased by over 1.1 percentage points, reaching 29.4 %.

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