Related Keywords: Chinese economy, Chinese exports, competitive pressure, driven by higer export rebate, European market, eurozone exports, export of both textile and clothing, high value added exports, mitigated by euro deflation, nearly doubled, price advantage
The price advantages of Chinese exports to the European market have been mitigated by the euro deflation. The weak euro will also spur eurozone exports to other markets, adding competitive pressure to China's high value-added exports.
The pressure is on Chinese exports as the euro sinks against the yuan, said Ministry of Commerce spokesman Shen Danyang on Tuesday.
The yuan was up 10.8% against the euro until March 13, when the euro devalued 13.2% against the US dollar.
