CRI听力:Will Chinese Christmas Exports be Hit by Global Recession?

In October, the value of China's foreign trade fell 8.3 percent, of which exports declined 7.2 percent, while imports fell by 9.5 percent, compared with that of September.

Tu Xinquan, Professor and Vice Dean of the WTO Research Institute, University of International Business and Economics, said China's monthly exports have continued to exhibit a downturn since July and he predicts China's export trade will continue to fall in November.

"Looking back from the present situation, I've found no trend which would suggest that any change would take place in November or December. So, I believe China's total export volume will continue to slip in November compared with that of October, so too will the growth rate of exports."

Statistics from China's General Administration of Customs also reveal that China recorded a trade surplus of 17.03 billion US dollars in October, as exports rose 15.9 percent while imports increased 28.7 percent year-on-year.

Professor Tu thinks the Christmas period will probably not lead to a turning point in Chinese exports.

"I think China already made its Christmas exports in October or even as early as September. According to the common practice of these exporting enterprises, they will manufacture to reserve ahead of Christmas. So, I think it's uncertain as to whether the Christmas buying season could bring up China's exports in November."

Christmas shopping and budgeting can be stressful, especially when the present-day economy is struggling.
Steph Jennings is a British woman who has a 12 yr old son.

She says even though she was able to secure a new job, her family is still quite frugal.

"It really did make us sit up and take stock of exactly what we are spending and where. This year's spend is nothing compared to what it has been in previous years. My son is now 11, nearly 12, so his needs have changed as well, but this year we have specifically not organized to have anybody round for dinner. We are going out for dinner; we're getting our mother in law to cook, so we are really making some cutbacks because of the climate at the moment."

A recent BBC survey shows the majority of British families planned to spend less than ?200 in total this year.

For CRI, this is Wei Tong.