China export growth to slow in rest of 2011 - Vice Min

Thursday, 29 September 2011 00:00 - - {{hitsCtrl.values.hits}}

GENEVA, (Reuters): China’s export growth is likely to slow down in the remaining months of 2011, but that won’t automatically translate into a weaker currency, Vice Commerce Minister Chen Jian told Reuters on the sidelines of a conference in Geneva on Tuesday.

Asked about a slowdown in exports, Chen said: “The growth margin will diminish. We hope it will turn around as soon as possible.

“With regard to whether it will soften the renminbi, I don’t think it’s related to the situation. That mainly rests with whether China has high pressures for renminbi appreciation. I think that since China embarked upon the path of renminbi value related to a basket of currencies it’s more the market that decides the value of the renminbi.”