[Week 17, 2010] Canton Fair Export Orders Lag 2008 Level
2010-April-26 Source: Newsgd.com
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China's export orders fell 19 percent at the opening session of the Canton Trade Fair from the same period in 2008, commerce ministry officials said last week.

Orders placed at the Canton Fair in Guangzhou totaled 17 billion USD from April 15 to 19, ministry officials reported on their website site on April 21. A previously published figure of 13 billion USD for the same period in 2009 indicates a 31 percent increase.

The Commerce Ministry's report comes as government officials weigh when to scrap the yuan's peg to the dollar, adopted in July 2008. Officials may allow currency gains to resume before June 30 to curb inflation, a Bloomberg News survey showed last week.

"Enterprises generally reported that foreign trade is still facing many unstable and uncertain factors and they took a cautiously positive outlook," according to a press-release statement from the Commerce Ministry. The statement also said that the value of orders rose 9.8 percent from the same period in last year's autumn fair. The Canton Fair is held biannually.

Editor: Miranda
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