Article: U.S. subprime crisis to affect China's exports: banking official

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 ...

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