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Exports future 'grim' says official

CHINA'S exports continued their downward trend in February and will face a "grim" situation in the "coming foreseeable months", a senior official said today.

"Affected by the global economic recession, China has undergone negative growth in both imports and exports since last November," said Chen Deming, Minister of Commerce, at a press conference on the sidelines of the National People's Congress' annual session.

China has seen bigger declines in processing trades, exports from coastal regions, and mechatronics products exports, said Chen, adding that the country has taken a series of measures to cushion the global financial crisis.

"We have raised export rebate rates for enterprises," said Chen, adding the government will expand the coverage of export credit insurance, and encourage financial institutions to develop export credit, in a bid to improve the country's financial services for importing and exporting.

He also called for joint efforts to tackle the financing difficulties faced by enterprises.


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