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Early signs of recovery in heartland

Less than a year after being in the eye of an economic storm, China's manufacturing heartland might at last be showing some signs of recovery.

Guangdong province - labeled one of the key "workshops of the world" - was on the firing line at the end of 2008 when North American and European consumers stopped buying their goods.

Exports collapsed by 18.6 percent in the first half of this year, according to Customs statistics, as vital markets for the province's electronics, clothing and household goods manufacturers dried up.

 

While car sales slumped across the world, BYD's sales in the first half of this year were up 176 percent, exceeding total sales for the whole of 2008.

Only six months ago it was reported that 600,000 migrant workers, who make up a substantial proportion of the labor force, had decided to go home.

Many businesses, which had until recently been thriving, were left questioning their survival.

Yet after months of the sustained impact of the government's 4 trillion yuan economic stimulus package, as well as indications of a steady recovery in some export markets, there seems to be evidence that at last things might be turning around.

The fall in the province's exports has certainly slowed, down 15.1 percent year-on-year in July, compared to 18 percent in June, according to the National Bureau of Statistics.

Frankie Yi, marketing director of Huizhou Unihero LED Lighting Technology in Huizhou, one of the province's major cities, said the stimulus package is having a positive effect on his business.

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 Source : China Daily  Editor: Ivy
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