<tt id="6hsgl"><pre id="6hsgl"><pre id="6hsgl"></pre></pre></tt>
          <nav id="6hsgl"><th id="6hsgl"></th></nav>
          国产免费网站看v片元遮挡,一亚洲一区二区中文字幕,波多野结衣一区二区免费视频,天天色综网,久久综合给合久久狠狠狠,男人的天堂av一二三区,午夜福利看片在线观看,亚洲中文字幕在线无码一区二区
          WORLD> Impact on China
          Chinese firms tightening belts
          By Wang Lan (China Daily)
          Updated: 2008-10-14 08:07

          The worsening US credit crisis that is threatening to grow into a global recession is reportedly forcing many CEOs of Chinese enterprises, for years geared toward an export boom, to sharpen their plans for cutting production and corporate spending to prepare for leaner times.

          Without a large enough domestic market to cushion the projected fall in exports, many Chinese enterprises are said to be facing a problem of excess capacity, built largely on easy and cheap credit in the past several years.

          The problem is particularly prominent in the steel and heavy industry sectors, the main engines of export growth, economists and industry analysts have said.

          With heavy industrial investment over the past several years, the production capacity in a number of sectors has grown much faster than domestic demand. Since then, the country has begun exporting its surplus capacity abroad.

          Since the turning point in China's external trade in 2003, when its total exports exceeded imports for the first time, the rising trade surplus has mainly stemmed from one or two specific sectors, rather than from a swathe of industries. These have included heavy industrial equipment and steel.

          For instance, steel exports accounted for 25 percent of the country's total exports in the past several years. In anticipation of slowing global demand, major steel manufacturers had earlier said they would cut output by 20 percent.

          Customs' statistics showed the growth rate of China's accumulated export to the United States from January to July dropped 8.1 percentage points to 9.9 percent, the first single-digit growth since 2002.

          It is estimated that China's overall exports will drop 4.75 percentage points for every point of decline in US GDP, whose growth is largely fired by domestic consumption.

          Light industries such as garments and toys have been hit equally hard by falling exports. But these are said to be mainly labor-intensive manufacturing industries that involve little long-term capital investment. Their adjustments to falling demand will simply call for shortening working hours and a reduction in shifts.

          Even then, thousands of small and medium-sized manufacturing enterprises in Pearl River Delta region have reportedly closed down.

          Latest official figures showed that China's export growth fell to 21 percent year-on-year in August, from 26.9 percent in July. Meanwhile, industrial production growth declined to 12.8 percent year-on-year in August from 14.7 percent in July and 16 percent in June.

          "Chinese exports are sensitive to weaker demand in industrialized countries in general, and the US in particular," said Zhao Xinge, a professor at China Europe International Business School. The US and European Union account for about 40 percent of China's total exports.

          To be sure, the government has taken measures to lessen the impact of the worsening US financial crisis on China's economy. "We expect China's government to continue loosening monetary policy and draw on its fiscal resources to bolster investments in infrastructure," said Jing Ulrich, managing director and chairwoman of China Equities at JPMorgan.

          But the effect of government measures will take months, if not years, to come through, while the problem arising from overcapacity in some major industrial sectors are immediate.

          Zhang Ping, a senior steel industry analyst at Umetals, a leading domestic metal consultancy, said: "The investment in the steel industry since 2003 has seen sharp and persistent increase, despite some interruptions within that period due to the government macro policy change to dampen overinvestment."

          (China Daily 10/14/2008 page13)

          主站蜘蛛池模板: 日韩在线视频线观看一区| 国精偷拍一区二区三区| 日本福利一区二区精品| 99re6在线视频精品免费下载| 国产成人片无码视频| 免费a级毛视频| 欧美亚洲日本国产综合在线美利坚| 福利视频在线一区二区| 久久精品国产久精国产思思| 好吊视频在线一区二区三区| 2020国产欧洲精品网站| 精品人妻久久久久久888| 久久国产精品精品国产色婷婷| 亚洲中文字幕一区精品自| 国产99视频精品免费视频36| 男人j进入女人j内部免费网站| 欧美性猛交xxxx免费视频软件| 日韩精品一区二区三区激| 人妻少妇不满足中文字幕| 亚洲av色夜色精品一区| 97精品伊人久久久大香线蕉| 18禁黄无遮挡网站免费| 国内精品伊人久久久久影院对白| 五月天在线视频观看| AV老司机色爱区综合| 最好好看的中文字幕| 3d无码纯肉动漫在线观看| 精品人妻无码专区中文字幕| 日本一区二区三区专线| 欧洲美女熟乱av| 日本东京热一区二区三区| 插入中文字幕在线一区二区三区| 国产精品一区二区三区自拍| 亚洲成av人片天堂网老年人| 亚洲国产成人久久综合区| 亚洲精品中文字幕尤物综合| 越南毛茸茸的少妇| 久久久久综合中文字幕| 亚洲午夜亚洲精品国产成人| 色噜噜久久综合伊人一本| 亚洲av片在线免费观看|