Market Commentary and Intraday News
China's Wen calls for steps to stabilize exports
296 days ago
(AP:BEIJING) Chinese Premier Wen Jiabao has called for efforts to stabilize weakening exports amid signs the world's second-largest economy is weakening despite stimulus efforts.
Wen made the comments during a weekend visit to the southeastern province of Guangdong, an export center that has been battered by the slump in global demand.
"The third quarter of the year is a critical period for China to realize the year's export growth target and we should take targeted steps to stabilize growth," Wen said, according to the official Xinhua News Agency.
The report gave no indication of possible measures but Beijing previously has promised tax cuts and more loans by state banks to help struggling exporters.
Export growth in July fell to just 1 percent from the previous month's 11.3 percent growth.
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