Edward Leung, Chief Economist Hong Kong Trade Development Council, said the forecast of export growth this year is maintained at 1%. The export price is expected to edge higher, if excluding this particular factor, the real growth would be minus 3%.
Leung added as the US economy is moderately recovering, while the market is optimistically expecting for China's policies to stimulate domestic demand, the confidence index on exports rebounded to 47.2 in the second quarter. However, as dragged down by the European debt crisis, the regional economies will get worsened. The export conditions have not bottomed ahead of tough business environment, he said. (r)
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