Imports fell more steeply than exports, dropping 25.1 percent in March from a
year ago, The New York Times reported Friday.
"Signs have been emerging that China's stimulus package launched last November is working," China economist Qu Hongbin at HSBC in Hong Kong wrote in a report last week.
In addition to the $585 billion spending package, Chinese banks have lowered interest rates. Lending in China has increased dramatically this year, the Times reported.
Economists predict China's economy will grow between 5.5 percent and 8 percent this year, in spite of the global recession. But growth through 2009 would not come from foreign sources, Tao Wang, a UBS economist in Beijing told the newspaper.
"Clearly, the economic recovery this year is not going to be driven by strong export growth and certainly not by growth in export-related investment," she said.
Copyright 2009 by United Press International.
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