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Europe debt crisis hurts 皇冠体育app trade to region -researcher

(Agencies)
Updated: 2010-05-19 11:28
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SHANGHAI - The euro zone debt crisis may lead to a slower growth rate for 皇冠体育app's exports to Europe over the next few months, a researcher at the Ministry of Commerce said in remarks published on Wednesday.

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"In April, the growth in exports to Europe still stood at 25 percent, but the response is probably delayed. In May, June, and especially the third quarter, it will probably drop 6 to 7 percentage points," Huo Jianguo, head of the Ministry's think-tank, was quoted as saying in the Shanghai Securities News on Wednesday.

The impact, mainly from the fluctuation in the euro, is likely to hurt electronic and mechanic equipment makers, because their exports make up for more than half of the total volume, Huo added.

The yuan has risen nearly 14.5 percent against the euro so far this year, which is pressuring 皇冠体育app's exporters and may influence the adjustment of 皇冠体育app's trade policy, the paper said.