Further decreases expected for China’s full-year exports

BEIJING - China's full-year exports are likely to see a bigger drop than last year as downward economic pressures remain in place, according to a senior analyst at a Government think tank. Long Guoqiang, Deputy Director of the Development Research Centre of China’s State Council,indicated that traditional advantages such as relatively low-cost labour-intensive manufacturing industries were losing traction in a weaker global economy, while emerging advantages from expansion of the country's high-tech sector are still evolving.

China's exports dropped 1.8% last year to RMB 14.14 trillion (US$ 2.14 trillion), while imports plunged 13.2% to RMB 10.45 trillion, according to data from the General Administration of Customs.

This was the first time China has seen declines in both exports and imports since 2009. In the first seven months of the year, exports were down 1.6% and imports decreased 4.8%.

Long asserted that China’s export growth “will remain slow in coming years”, he China Daily reported. www.webershandwick.cn (ATI).