U.S. Degradation Slows Chinese Export Growth

[China Aluminum Network] August 19, As Minister of Commerce, Chen Deming concerns much about effect from foreign economic shock to our domestic economy.

Yesterday, Chen Deming indicates at the forum of “the twelfth five-year plan and economy and trade cooperation” that foreign market sovereign debt crisis will affect Chinese export. Currently, the key priority of the market is controlling inflation.

He also points out that our country will carry out foreign trade policy to support small and medium enterprises.

In terms of sovereignty debt crisis from US and European, Chen warns that the crisis may continue to break out especially during August and September.

Chen Deming estimates that foreign sovereignty crisis will slow Chinese export. Both export order amount and quantity have shown signs of downward, especially in Pearl River Delta and Yangtze River Delta.

He puts forward four policies to the manufacturing and import and export enterprises. Firstly, stabilizing foreign trade by keeping constant export rebates, insurance and export of large whole set of equipment. Secondly, accelerating economic structural adjustment. Third, further improving       investment environment and easing enterprise burden. Fourth, seizing the right opportunity to going out.

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