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Article: U.S. subprime crisis to affect China's exports: banking official
- Article from:
- Xinhua News Agency
- Article date:
- March 8, 2008
CopyrightCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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U.S. subprime crisis to affect China's exports: banking official
BEIJING, March 8 (Xinhua) -- China's export-oriented companies
will face a demand drop affected by the U.S. subprime mortgage
crisis, a senior banking official said on the sidelines of the
parliamentary session.
"The subprime crisis has reduced consumption demand and risk
tolerance of U.S. and European investors, which will affect China's
exports and the operation of export-oriented companies," Liu
Mingkang, chairman of the China Banking Regulatory Commission.
Liu made the remarks while attending a panel discussion of
legislators from Jiangsu Province, noting foreign trade is an
economic pillar for eastern provinces like ...