Recently, Chinese Commerce Department informed the provincial Governments and Chinese export enterprises that Chinese export would possibly decrease rapidly as export orders from America is lowering down.
In experts opinion, the reason behind this downfall is the declining US economy. The subprime crisis of America is making American economy slower since July this year.
Presently, America is one of the most important export markets for China accounting for over 19 percent of the total export of China. According to statistics, in the first quarter of this year, the rise rate of Chinese export to America was 20.4 percent; in the second quarter, the growth rate was 15.6 percent. However, in the third quarter, it saw a downfall of about 12.4 percent.
The research of China Bank showed that if the growth of American economy decreased by one percent, Chinese export would suffer a loss of six percent.
fibre2fashion News Desk - China
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