Having avoided for several months the worst of the avalanche hitting Asia's exports, China is now feeling the full force of the collapse in global demand.
Exports dropped 25.7 per cent last month compared with February 2008 and, after taking into account the greater number of working days in the month this year, the decline was probably nearer 40 per cent.
Even before the figures were released, China's commerce minister Chen Deming promised initiatives to ease the pain of the country's exporters, including reducing export taxes to zero and additional financing.
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