China’s trade surplus falls
11/08/2008
China's trade surplus fell by 9.6% to $123.7 billion in the first seven months of 2008, according to official figures released on August 11.
The official Xinhua news agency quoted analysts as saying this decline was partly the result of policies aimed at shrinking the surplus, but added that higher imported energy and resource prices had also contributed to the fall.
The surplus for the month of July alone was $25.3 billion, a decline of about $900 million from the same month a year ago, according figures from China's customs agency.
China announced earlier this month that it has offered improved tax incentives for exporters of some textile and apparel products to help mitigate weakening foreign demand.
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