Hong Kong recorded sharp falls in the value of its domestics exports in the third quarter, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said Friday.
The apparel industry suffered the most, with the value of exports falling 84.7 percent year on year to 1.1 billion HK dollars (141 million U.S. dollars).
China's Ministry of Commerce (MOC) said Friday it had launched anti-dumping, anti-subsidy investigations into U.S.-made off-road vehicles and sedans with engine displacements of 2.0 liters and above.
The decision was made after the China Association of Automobile Manufacturers (CAAM) filed an application for the investigations, the MOC said in a statement posted on its website.
CAAM, representing Chinese car-makers, said U.S. car makers had unfairly benefited from 31 government subsidy programs. The MOC decided to investigate into 24 of them.
Read more: China to launch anti-dumping, anti-subsidy probe into U.S. autos
China suffered heavily from trade protectionism which has been rising after the outbreak of the global financial crisis, a Ministry of Commerce official said here Saturday.
MOC spokesman Yao Jian said that some countries and regions resorted to expanding exports to boost economic recovery after efforts to stimulate domestic demand failed, and even depreciated domestic currency and increased subsidies to raise competitiveness of domestics exports.
"Such moves lead to the rising trade protectionism," Yao told a forum on international trade development held in this northern port city neighboring Beijing.
Yao said 19 economies launched 88 probes into Chinese products in the first 9 months, involving 10.2 billion U.S. dollars of export goods. The two figures were 29 percent and 125 percent respectively higher than the same period last year.
Read more: China suffers from rising trade protectionism, revenge plan is coming
A Chinese government think tank leader said Thursday China's macroeconomic policy in 2010 should focus on maintaining steady economic growth and stable prices.
Liu Shijin, deputy director of the State Council's Development Research Center, made the statement at a forum in Beijing on the first anniversary of the introduction of the government's 4-trillion yuan (586 billion U.S. dollars) economic stimulus plan.
Read more: China's new economic policy : steady growth, stable prices
One year after China launched the stimulus package and regained economic growth momentum, experts said the government was set to stick to pro-growth macro-economic policies while making minor adjustments in the prospect of inflation.
Liu Shijin, vice director of the Development Research Center of the State Council, or China's cabinet, told a forum held Thursday that many people were looking at the issue of price since both the consumer price index (CPI) and producer price index (PPI) would probably begin to rise at the end of 2009.
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