Home | China | World | Business South China Province Reports Growing Foreign Trade THU, FEB 21, 2002     Guangdong Province, an economic powerhouse in south China, saw its imports and exports hit 15.35 billion U.S. dollars-worth in January this year, up 37.8 percent from the same period of last year. Statistics from the province show that in January exports reached 8.33 billion U.S. dollars-worth, up 39.5 percent, and imports, 7.02 billion U.S. dollars-worth, up 35.9 percent. China's overall exports and imports in January climbed by 25.7 percent. Analysts say that the nation's economy is expected to maintain a growth rate of seven percent this year. Such a rate would mean that China will be able to better restructure its economy and sharpen the competitive edge of its export commodities. However, experts agree that China faces the most unfavorable export situation for years this year. The economies of the US, Japan and the European Union, whose combined economic power accounts for 70 percent of the world's total, have all declined at the same time, the first time since 1975. The September 11 tragedy, in particular, aggravated the US economy, and affected most of China's export markets. Chinese commodities are quite competitive in traditional markets like the US, Japan and the European Union, according to officials of the Ministry of Foreign Trade and Economic Cooperation. In addition, the economies of Russia, India and some Middle East countries are growing quite rapidly, which means market room for China's exporters. The analysts also believe that China's WTO membership means a two-way opening of markets for both China and other WTO members that will create more opportunities for China's exports. Editor:Hope CCTV.com Recommend to your friend email:    China Central Television,All Rights Reserved