Chinese shares opened slightly lower on Thursday, with the key Shanghai index edging down 0.31 percent, following the release of worse-than-expected economic data for November.
The benchmark Shanghai Composite Index lost 0.31 percent, or 6.54 points, to 2,072.58 at the opening. The smaller Shenzhen index was down 22.84 points, or 0.3 percent, to open at 7,467.45.
The General Administration of Customs (GAC) said on Wednesday the country's exports totaled 115 billion U.S. dollars last month, down 2.2 percent year-on-year in the first monthly decline since June 2001.
Sharp declines were recorded on the import front last month. Imports were worth 75 billion U.S. dollars, down 17.9 percent year-on-year and down 19.5 percent month-on-month.
November's total trade volume stood at 189.89 billion U.S. dollars, down 9 percent year-on-year.
Also on Wednesday, the National Bureau of Statistics (NBS) said China's producer price index, a measure of inflation at the factory level, decelerated sharply to an annual rise of 2 percent in November.
The Ministry of Commerce said foreign direct investment into China plunged 36.52 percent year-on-year to US$5.32 billion last month.
These figures served as fresh indicators of slowdown in the country's economy and slumping external demand.
On Wednesday, the three-day Central Economic Work Conference, which gathered the country's top leaders, ended in the Chinese capital with a pledge to maintain stable, healthy growth next year through domestic demand expansion and economic restructuring.
(Xinhua News Agency December 11, 2008)
