Ministry Of Commerce: China'S Exports Are Increasingly Clear By The US Subprime Crisis.
Centrally located Guangdong and Zhejiang.
In the first two months of this year, Zhejiang's foreign trade has dropped considerably. The total volume of foreign trade imports and exports has decreased by 33.8% compared with the same period last year. In particular, exports dropped significantly. Some private enterprises began to search for new markets to cope with the crisis. Nearly half of garment export enterprises in Guangdong Dongguan stopped production.
$17 billion a year ago.
Exports to the United States, since the outbreak of the subprime mortgage crisis in the United States, the consumer market has shrunk and the US dollar has weakened. The US market orders in the first two months of this year have dropped sharply, of which furniture and clothing products have dropped by 0.8%, and footwear exports have dropped by 20%.
In response, Dongguan's government departments are considering negotiating with foreign banks to reduce losses through financial products.
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