November 9, 2007
Weekly Trends in China/Economics | 2007/11/16 10:35
Economy
China's export growth slowed in September because of the government's export tax rebate cuts since July 1, China Customs said. The total export volume reached 112.5 billion US dollars, an increase of 22.8 percent from September last year. However, when compared with the first eight months, growth slowed by 4.9 percentage points. 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 US dollars in September.
China's export growth slowed in September because of the government's export tax rebate cuts since July 1, China Customs said. The total export volume reached 112.5 billion US dollars, an increase of 22.8 percent from September last year. However, when compared with the first eight months, growth slowed by 4.9 percentage points. 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 US dollars in September.
Chinese banks had issued more than 1.3 billion debit, credit, and semi-credit cards by the end of September, roughly one for every person in China, according to China UnionPay. Bank card consumption as a percentage of China's total retail sales exceeded 18 percent in the first nine months as more Chinese opt for cards over cash. China had 183 banks issuing cards that could be used at 1.08 million points of sale for 650,000 specially endorsed outlets and 120,000 automatic teller machines.
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