China Encourages Enterprises to Improve Export Structure

Source: Xinhua, ChinaScope Financial (Data)

+          CHEN Deming, China’s Minister of Commerce, stated on October 15 that local commerce regulatory bodies should implement the foreign trade stabilization measures introduced by the State Council earlier. Furthermore, Chinese foreign trade enterprises should improve the structure of their export products in the face of complicated and grim foreign trade situations.

+          In early September, the State Council introduced a series of measures to stabilize foreign trade growth. These measures include the acceleration of export tax rebates process, expansion of export credit insurance, and simplification of administrative procedures, to name a few.

Amidst fettering global demand, policy makers have intensified support to the export sector through vehicles such as tax rebates. September’s surprisingly high export growth suggests that the measures have garnered some success.

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