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English>>China Business

Measures target economic growth

By Li Jiabao (China Daily)

08:08, September 13, 2012

The State Council on Wednesday announced a series of measures to stabilize foreign trade growth following lackluster trade figures in recent months, in the government's latest move to boost economic growth amid the global economic turmoil.

"First, we will speed up tax rebates for exporters and make sure that they get the rebates accurately and promptly," the State Council said in a statement released after an executive meeting presided by Premier Wen Jiabao.

The government will also expand the range of export credit insurance and reduce financing costs, while urging commercial banks to enhance trade financing for small and micro-sized companies, and increase credit to qualified exporters, the statement said.

Export-related insurance companies are being told to widen service coverage, and especially to provide services to small and micro-sized exporters. Short-term services to small and medium-sized businesses are also being encouraged to help them tap overseas markets, it said.

Administrative procedures, such as inspections and quarantines, will be simplified and the related costs will be lowered from next year in order to improve efficiency and lower costs during customs clearance.

The government said it will also properly defend exporters against trade frictions, while launching trade remedy investigations to protect domestic industries. Companies are being urged to make full use of regional and sub-regional cooperation mechanisms and effective free trade agreements.

China will also expand imports, particularly those of advanced-technology equipment, key components and consumer goods, to support the technological upgrade process of companies and strengthen balanced trade.

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