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Guangdong exports set to post rise in Q4

EXPORTS by south China's Guangdong Province, an economic powerhouse and a major export base of the nation, have seen signs of recovery, and are expected to grow year on year in the fourth quarter, said a local trade official yesterday.

Liang Yaowen, head of the provincial bureau of foreign trade and economic cooperation, said Guangdong's exports would continue to decline year on year in the third quarter this year as global demand has yet to rebound, trade protectionism persisted and pressure remained on export prices to drop further.

Guangdong's external trade amounted to US$257.87 billion from January to June, a decline of 20.7 percent from the same period last year. The total included US$153.42 billion in exports, down 18.6 percent, and US$104.45 billion in imports, down 23.7 percent.

But Liang said the province's foreign trade was recovering quarter on quarter, and predicted that in the fourth quarter, the province was expected to post a year-on-year growth in exports.

In the second quarter, exports grew 16.5 percent from the first quarter and external trade surged 34.4 percent, he said.

Liang said Guangdong's share in the nation's total exports went up 1.1 percentage points to 29.4 percent in the first six months.

He attributed the signs of recovery to the central government stimulus measures, including higher tax rebates and credit insurance for exports.

The Guangdong branch of China Export and Credit Insurance Corp provided insurance for the province's exports valued at US$3.95 billion in the first half this year, up 63.6 percent on the same period last year, according to Chen Liancong, its general manager.


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