China's Trade Minister Urges Greater Focus on Exports

Home>>Business

Last updated at: (Beijing Time) Sunday, July 21, 2002

China's Trade Minister Urges Greater Focus on Exports

DISCUSSION

CHINESE

SEND TO FRIEND

China's trade minister urged all trade officials nationwide to prepare for uncertainty over the country's foreign trade circumstances in the latter half of the year, and try their best to promote exports.

Shi Guangsheng, minister of Foreign Trade and Economic Cooperation (MOFTEC), said in Suzhou on Saturday at a national exports conference that while facing world economic uncertainties,all trade officials should use opportunities brought by China's membership of the World Trade Organization, and diversify export commodities, export markets, trade firms and ways of doing foreigntrade.

More than 60 leading officials from China's provinces and majorcities attended the two-day conference that ended on Saturday. Themeeting aimed to sum up the experiences of the first half year anddiscuss ways to boost exports during the rest of the year.

China's exports surged 14.1 percent during the first six monthsof the year,to top 142.06 billion US dollars. Actual overseas investment came to 24.579 billion US dollars, up 18.69 percent. Both growth rates were unexpectedly high compared to forecasts early this year.

Shi attributed the unexpected growth to such factors as the country's sustainable growth in gross national product, its entry into the WTO, and new policies to encourage exports.

"We are still confronted with many uncertainties in the world economy," Shi told the officials. "Trade protectionism is growing and its negative effect should by no means be neglected. Our state-owned trade companies cannot cope very well with the new situationand many foreign trade companies have difficulties over capital."

There were several ways to boost exports, he said. In terms of export commodities, hi-tech and labor-intensive goods were equallyimportant. Increasing exports of farm produce as well as industrial goods was another approach, he said.

On expanding the overseas market, the minister stressed the importance of such new markets as Russia, India and the Middle East. He urged officials to help foreign trade firms tap those markets.

Shi also urged officials to allow more businesses to explore foreign trade. Currently, China allows state trade firms, foreign-invested ventures and some private companies to import and export.Shi said more manufacturing ventures and private companies should join the ranks of foreign traders.

Chinese State Councilor Wu Yi sent a message to the conference saying that trade officials should assess the current international economic situation correctly, and use every chance in the world economy as well as China's WTO entry to export more goods made in China.

Questions?Comments? Click here

Analysis: China's Export Growth Likely to Reach 8 Percent

Missing Worker Found, Relatives Mourn ( 5 Messages)

China's Economy Grew 7.8 Percent in First Half Year ( 18 Messages)

Chinese Office Software Challenges Microsoft's Win98 ( 13 Messages)

Gang of 66 Criminals Get Heavy Sentences ( 74 Messages)

Secret of China's Manned 'Spaceport' Revealed ( 3 Messages)

How to View Major Problems in China's Income Distribution System ( 134 Messages)