On April 28, Wei Jianguo, secretary general of the
China International Economic and Exchange Center, stated that the rate of growth of
China's exports may fall to single digits for the current year.
Mr. Wei said that the weak demand in the European Union is the main factor which will impact
China's exports.
In addition, the rising cost of raw materials and the expectation that an appreciation of the Chinese currency could squeeze the profit margins of trading companies also contribute to a slower growth rate for Chinese exports.