China backs stable trade growth
Print Edition
CHINA yesterday said it will support the stable growth of foreign trade and job creation as businesses come under pressure to increase exports.
Optimizing the foreign trade structure — including encouraging imports of technology and key parts, maintaining stable growth of goods trade and supporting services trade — is the central issue of a policy document issued by China’s Cabinet, the State Council.
The document detailed the decision made at an executive meeting of the State Council on April 30.
“Foreign trade is not only critical to stable economic growth and job creation, but conducive to integration between the Chinese and global economies,” said the State Council. Exports fell 2.3 percent in the first four months of this year to US$680 billion.
Export tax rebates will be accelerated, and companies are encouraged to merge and acquire foreign brands and production lines to improve their competitiveness. They are also encouraged to set up factories overseas. Efforts will be made to increase imports of scarce natural resources and boost exports of high-tech products with high value added and high profitability.
The customs inspection list of export products will be cut, and the clearance process streamlined. Companies will be helped in responding to anti-dumping and anti-subsidy probes.
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