Caijing.com published selections from a video about remarks by Fu Ziying, the Deputy Minister of the Ministry of Commerce. On August 12, said Minister remarked that China’s economy has reached bottom, but exports were still trending downhill. Fu acknowledged that China’s exports reversed the fast growth and have not halted their 9-month downward trend. There is no immediate fix for this problem and a turn around is difficult to achieve. The Ministry of Commerce and other government agencies will cooperate to stabilize the downslide and hang on to the current export markets and market shares, while trying to stabilize foreign investments into China. At present, the intention is to speed up the implementation of the “Going Out” strategy (for Chinese companies to invest overseas).
Source: Caijing.com, August 12, 2009
http://multimedia.caijing.com.cn/2009-08-12/110223330.html