Beijing reports slowdown in foreign trade growth

Special Report:Global Financial Crisis

BEIJING, Dec. 14 (Chinese media) -- Impacts of the global financial meltdown are

becoming apparent in the foreign trade sector of China's national capital,

Beijing.

The growth rate of imports and exports in Beijing has been declining for

six months. For instance, the year-on-year rise in May was 73.1 percent, but in

October, the increase was only 45.6 percent, said a document posted on the

Beijing District Custom's website.

Beijing's imports were mainly crude and processed oils, iron ores,

automobiles and farm produce. Its exports were high-tech products such as cell

phones, garments, steel products and coke.

Beijing Customs advised departments to establish a precautionary mechanism

within industries to minimize the declining growth rate. Specifics were not

released.

It's website showed Beijing's imports and exports totaled 237.3billion U.S.

dollars in the January-October period, up 54.4 percent year on year.

Exports made up 47.9 billion U.S. dollars, up 21.8 percent, while imports

were 189.4 billion U.S. dollars, a rise of 65.6 percent.

The European Union remained Beijing's No.1 foreign trade partner in terms

of foreign trade volume in the first 10 months of the year. It was followed by

Saudi Arabia, Angola, Japan, ASEAN and the United States.