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Markets

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Trends/Policies

China's export growth slows in September

(Xinhua)
Updated: 2007-11-08 11:13

China's export growth slowed down in September due to the government's export tax rebate cuts since July 1, the China Customs said Wednesday.

A Chinese businessman passes by engineering vehicles which will be exported to Central Asia at Horgas inland port in Northwest China's Xinjiang Uygur Autonomous Region in this picture taken on September 12, 2007. China's export growth slowed down in September due to the government's export tax rebate cuts since July 1. [Xinhua]

The total export volume reached $112.5 billion, an increase of 22.8 percent from September last year. Yet compared with the first eight months, growth slowed by 4.9 percentage points, said the Customs.

During the first nine months, exports also expanded at slower pace, standing at $878.1 billion, up 27.1 percent on the same period last year.

Government policies to curb exports have been effective. Export goods on which tax rebates had been canceled saw their export volume decline 6.3 percent to $1.36 billion in September.

Compared with the first eight months, processing trades slowed by 5.4 percentage points to hit $12.5 billion, while ordinary trades slowed by 10.2 percentage points to stand at $24.6 billion.