Central Bank Deputy Governor Yi Gang

Liu Li-Gang and Zhou Hao, economists at ANZ Bank, said China's sliding export sales were also a result of a rising yuan.They said activity was further hurt by the Mid-Autumn festival, which fell in the middle of September this year,Fashion Dresses reducing the number of working days in the month compared with 2012."The strong renminbi has eroded China's export competitiveness," ANZ Bank said in a note. It said there were risks that China's economic growth may miss market forecasts this year, but predicted 2013 growth would hit 7.6 percent.The yuan,Fashion Dresses which hit a record high of 6.1090 to the dollar on August 12, has gained 5.7 percent against 60 other currencies since January, data from the Bank of International Settlements showed, outstripping a 3 percent rise in the dollar.In the face of China's unsteady economic recovery, Beijing has repeatedly expressed confidence that the country can still achieve its 2013 growth target of 7.5 percent.

Central Bank Deputy Governor Yi Gang was quoted as saying this week in Washington that China's annual economic growth this year could hit about 7.6 percent.Anlaysts have long warned that a recovery in China's economy may be fragile and brief, especially if Chinese leaders stick to plans for financial reforms, including curbing extravagant investment,Fashion Dresses which would hurt growth in the near term."Despite the subdued export outlook, we expect the government to maintain its current policy stance," said Kuijs from RBS."We expect it to hold on to the firmer monetary stance that it is trying to pursue in order to rein in overall credit growth."An unexpected drop in exports led to China's trade surplus narrowing to a disappointing $15.2 billion in September from $28.6 billion in August, customs figures showed Saturday.

Exports fell 0.3 percent year-on-year to $185.64 billion last month, while imports increased 7.4 percent to $170.44 billion, the figures said.The statistics could signal potential headwind for the world's number two economy, which relies heavily on global demand for its products.Exports in August jumped 7.2 percent year-on-year to $190.7 billion. The positive figures had led analysts to point to optimism in China's economy.However,Fashion Dresses the September trade result was worse than expected, with a survey of nine analysts surveyed by Dow Jones Newswires forecasting a trade surplus of $27 billion.Analysts say China's national holidays falling in September, along with a strong local currency, could have stalled exports.
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