Negetive rate since seven years

Friday.December12.08 by goose on ice.

China’s export business dropped to the lowest point in November 2008 since 1999. Export was $114.99 billion, hitting -2.29%, while import was $74.89 billion, fell to -17.9%. It made $40.1 billion trade surplus,  52.5% increased.

Although Chinese government rolled out prompt policies by tax rebate to export businesses, reduce VAT, and business tax, and even to adjust RMB exchange rate, for stimulating exporting, it will not be an effective solution.  For maintaining GDP at 8%, as one of the most priority tasks in 2009, to launch domestic consumption is expected a major measure to save China’s crisis. According to World Bank’s estimate, China’s GDP in 2009 might below 8%, possibly reach 7.5%.

FDI figures

From Jan to Nov, FDI was $86.42 billion. In November it was $5.32 billion, took -36.52% decline continued in five months.

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