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ADB expects China's export to grow slightly

ASIAN Development Bank (ADB) predicted that China's export was likely to switch from negative to positive growth in the fourth quarter this year.

The welcome change was led by the stimulus policies taken by the Chinese government to boost its export in the wake of economic downturn, such as raising export tax rebates and expanding export credit insurance, the bank said.

The report said China's export began to suffer sharp declines since last November. Its export value in the first seven months this year dropped 22 percent year on year.

China's export fell 23.4 percent in August compared to the same month last year, and the rate of decline was 0.4 percentage point bigger than that of July, according to the General Administration of Customs (GAC).

The bank forecast China would see its export down 17.5 percent in 2009 year on year, and the export in 2010 could rise 8 percent from 2009.


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