Call to support China’s foreign trade
Print Edition
PREMIER Li Keqiang yesterday urged more support to build up China’s foreign trade to promote a balanced and steady development of its economy.
“Foreign trade is an important part of the national economy. To stabilize foreign trade and make it stronger is important to ensure the economy run smoothly and upgrade,” according to a statement issued after a State Council executive meeting chaired by Li.
Tepid global demand and slowing domestic economy has dealt a blow to China’s foreign trade. It fell 7 percent year on year in 2015, with exports down 1.8 percent and imports down 13.2 percent.
However, the March data provided some relief. Exports last month surged 18.7 percent year on year, the first increase since December, compared with falls of 20.6 percent in February and 6.6 percent in January. Imports shrank 1.7 percent, an improvement from February’s 8 percent drop.
According to yesterday’s statement, several measures are in the pipeline to prop up foreign trade.
Financial institutions are encouraged to increase financial support for foreign trade enterprises that are “making profits and receiving orders.” The tax rebate rate for some mechanical and electrical products will be increased.
There will be more cross-border e-commerce pilots to support Chinese companies in increasing their overseas presence.
“Active import policies” will be implemented, with extra support for the import of advanced equipment and technologies, the statement read.
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