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| Version 1 | Version 2 |
|---|---|
| Chinese exports drop in slowdown | Chinese exports drop in slowdown |
| (10 minutes later) | |
| China has reported a fall in exports for the first time in seven years. | China has reported a fall in exports for the first time in seven years. |
| Chinese exports declined in November from the same period a year ago for the first time since 2001, data shows. | |
| But China still reported a record monthly trade surplus of $40.1bn (£26.7bn), as the fall in imports was even bigger than the fall in exports. | But China still reported a record monthly trade surplus of $40.1bn (£26.7bn), as the fall in imports was even bigger than the fall in exports. |
| Exports dropped by 2.2%, while imports shrank by a massive 17.9% as Chinese consumer spending slumped - a sign of the impact of the global downturn. | Exports dropped by 2.2%, while imports shrank by a massive 17.9% as Chinese consumer spending slumped - a sign of the impact of the global downturn. |
| Economists have been watching China closely, amid worries that global demand could be hit further if China fails to keep its economy growing fast. | Economists have been watching China closely, amid worries that global demand could be hit further if China fails to keep its economy growing fast. |
| Weakening demand | Weakening demand |
| "It's just a start. Exports and imports will continue to fall in the coming months, probably until next June," said Zhang Shiyuan at Southwest Securities in Beijing. | "It's just a start. Exports and imports will continue to fall in the coming months, probably until next June," said Zhang Shiyuan at Southwest Securities in Beijing. |
| "China's export sector will begin to show signs of stabilisation only with global recovery," said Jing Ulrich at JP Morgan. | "China's export sector will begin to show signs of stabilisation only with global recovery," said Jing Ulrich at JP Morgan. |
| The trade surplus in the 12 months till the end of November rose to $278.7bn from $265bn in a year to the end of October. | The trade surplus in the 12 months till the end of November rose to $278.7bn from $265bn in a year to the end of October. |
| Meanwhile, Chinese aviation authorities are urging local airlines to postpone or cancel 2009 plane deliveries amid falling demand for air travel. | Meanwhile, Chinese aviation authorities are urging local airlines to postpone or cancel 2009 plane deliveries amid falling demand for air travel. |
| The move could hurt aircraft makers Boeing and Airbus, which have hoped to weather weakening demand in their home markets by relying on growth in emerging markets, such as China. | The move could hurt aircraft makers Boeing and Airbus, which have hoped to weather weakening demand in their home markets by relying on growth in emerging markets, such as China. |