Recession winds chill exporters

Chill winds of global recession have started to blow across exporters in China with industry experts warning of more freezing conditions amid plunging growth rates.

"The situation will get even more complicated, and there will be more uncertainties in 2009," the Ministry of Commerce said in a report on trade outlook.

Experts forecast that the government will continue to stabilize exports by adjusting the renminbi exchange rate and export tax rebate. The fundamental way to maintain the competitiveness of China's exports is to adjust product structure and encourage enterprises to make more value-added products, rather than rely on low value-added products, they said.