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New measures to help trade firms expected

By Ji Beibei (Global Times)

08:23, September 24, 2012

Further actions are expected to be taken to help domestic foreign trade companies stay afloat amid faltering trade, experts said Sunday after the authorities said China would cancel customs supervision charges on foreign trade firms starting from next month.

"The new policy helps, but is far from enough," He Weiwen, co-director of the China-US-EU Study Center under the China Association of International Trade, told the Global Times Sunday.

Foreign trade firms will not have to pay customs supervision charges starting from October 1, according to a notice released by the Ministry of Finance (MOF) and the National Development and Reform Commission Thursday.

The policy will cut charges for domestic foreign trading businesses by 3.5 billion yuan ($550 million), according to the MOF's estimate.

Meanwhile, the government will also lift the inspection and quarantine fees for all outbound and inbound goods, vehicles and containers from October 1 to December 31, the notice said.

The new policies are the latest in a series of supportive measures released earlier this month aimed at stabilizing trade growth. The other measures include accelerating the export tax rebate process, lowering financing costs for small and medium-sized enterprises and enhancing credit to qualified exporters.

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