[ PRC’s Sept. Exports Ride Wave of Recovery ]

Analysts said positive growth was a result of the fast economic recove
ry in Asia, which had been hit hard by the Asian financial crisis. Exp
orts to those countries now have resumed growth. Exports to Hong Kong
and Russia were still negative in the nine months, but the margine of
decline shrank compared to the January-August period. The appreciation
of currencies in South Korea, Indonesia and Malaysia have made Chines
e exports more competitive, while the strength of the U.S. and Europea
n markets were also keeping demand for Chinese goods high. Stymied by
weak economies throughout Asia, Khinese exports registered a 4.6 perce
nt drop in the first half of the year over the same period of 1998, wh
ile during the first eight months of 1999 exports had fallen by 0.2 pe
rcent over the same period last year.