CHINA'S EXPORTS AND SURPLUS DOWN IN FEBRUARY

BEIJING, March 11 (Bernama) -- China's exports and trade surplus tumbled
sharply in February 2009, bringing more glum to the world's third largest
economy that is battling to rein in 8.0 percent growth this year from the global
financial crisis.

February's exports suffered a 25.7 percent fall to US$64.9 billion from a
year ago while imports fell 24.1 percent to US$60.54 billion, according to the
General Administration of Customs on Wednesday.

The surplus of only US$4.84 billion is a far cry from the US$39.1 billion
posted in January when exports already decreased by 17.5 percent and imports
declined 43.2 percent year on year.

The data came at a time when the country's top policy makers are having
their annual meeting in the capital where the state of economy tops the agenda
due to growing jobless woes and social instability risks.

Premier Wen Jiabao said at the opening of the National People's Congress
said China was sticking to the 8.0 percent growth target and that the government
would increased spending and seeking to expand domestic demand.

China had also announced in a four trillion yuan stimulus package last
November.

Commerce Minister Chen Deming on Tuesday warned of "grim" times ahead for
China's trade because of still uncertainties in the financial crisis that has
caused the closure of thousands of factories in its manufacturing region of
southern Guangdong province.

Sherman Chan, economist at Moody's Economy.com, said China's exports were
set to stay in the red so long as the world's major economies remain in
recession.

The United States, Europe and Japan, battered hard by the financial crisis,
are among the biggest importers of made-in-China products.

"Local manufacturers will continue to feel the squeeze brought on by a
contraction in global consumption, and pressures on the government to quickly
roll out the fiscal stimulus projects will intensify," Chan said.
-- BERNAMA