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Exports and imports in southern China's Guangdong Province, accounting for one fourth of the country's total, plunged 31% to US$36.6 billion in January from a year ago, a decline a little steeper than the country's average decline of 29%, said Guangdong Customs on Tuesday.
The value of exports fell 23.6% to US$36.6 billion, while that of imports plummeted 42.1% to US$12.4 billion, with surplus totaling US$11.77 billion in January, according to the statistics.
However, the drop may not be as drastic as it seems, because of the effects of the seven-day Spring Festival holiday and the decline in prices of imported energy and raw materials, according to a provincial commerce department official.
The Guangdong government will enact stimulus policies, including tax rebates, and extension of import and export credits and insurance, according to Wan Qingliang, Guangdong's deputy governor.
China earlier reported a 29% decline in foreign trade in January
Go News Center Added by: jessie Add time: 2009/4/30 3:26:45 view >>
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