China hit with plummeting exports

China News.Net
Friday 10th July, 2009

Despite massive stimulus packages by the Chinese government, China's exports, the mainstay of its economy, continue to plummet.

Exports have been falling sharply since November last year. The depth of the decline has shown no sign of slowing with June's exports falling 21.40% compared to June last year.

The June figure followed a disastrous May when the country reported a 26.40% decline.

Economists however say China is still recording strong economic growth at 8% per annum, albeit down from the 11 to 12% level of previous years.

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