Wednesday, July 30, 2008

CCB: Export growth could stay above 20%

China's export growth may remain above 20% in the second half of this year if the government adjusts policies to bolster the sector, said a research report by China Construction Bank, state media reported. However, the real pace of export growth was actually slowing down sharply once price increases and the rising Chinese currency were taken into consideration, the report said. China's exports gained 21.9% year-on-year in the first half of 2008, down 5.7 percentage points from the growth rate a year ago. China needs to create 24 million new jobs each year and foreign trade, where private companies concentrate, creates a large number of those vacancies. According to industrial statistics, more than 80 million people work in foreign trade.

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