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China Exports Slows Down

Chinese Customs authorities released export statistics for the first three quarters of 2008 showing an 11.8% net growth of export, totaling $1,074 billion.  It is a reduction of 8.1 percentage point comparing to the same period last year. The reduction was mostly caused by the decrease in the traditional and bulk products. A China Customs official warned that China cannot ignore the impact on its import and export trade of the U.S. financial crisis.

Source: Xinhua, November 6, 2008