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Premier Wen vows to stabilize foreign trade


09:38, October 16, 2011

Chinese Premier Wen Jiabao (L, front) shakes hands with employees of Guangzhou Dayang Motorcycle Co., Ltd., in Guangzhou, capital of south China's Guangdong Province, Oct. 14, 2011. Wen paid a two-day inspection tour of Guangzhou, the host city of the ongoing 110th China Import and Export Fair, on Thursday and Friday. (Xinhua/Li Xueren)

GUANGZHOU, Oct. 15 (Xinhua) -- Premier Wen Jiabao has pledged more support measures for exporters including "a basically stable exchange rate" for Renminbi to stabilize foreign trade in the world's second largest economy amidst new external uncertainties.

Wen made the remarks during an Oct. 13-14 inspection tour of Guangzhou, the host city of the ongoing 110th China Import and Export Fair, also known as the Canton Fair, in the southern province of Guangdong.

During his inspection, Wen made field trips to Guoguang Electric Company Ltd. and Guangzhou Dayang Motorcycle Co., Ltd., which are both major exporting companies in the province.

At a meeting with some local foreign trade enterprises, Wen was briefed by their representatives about their business performance and the latest situation concerning China's imports and exports.

According to reports by the foreign trade sector, rising labor and material costs and the appreciation of Renminbi, or yuan, in recent years had greatly reduced the exporting companies' profitability and created trouble for their business.

"Even though we encounter difficulty now, we should remain confident and not be overwhelmed by the hardship," Wen said after hearing the business report.

Wen noted the government will take a package of measures and work with the foreign trade sector to plow through the difficulty and foster further growth of the economy.

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Jack Smith, USA at 2011-10-1624.26.135.*
There is an old saying. A picture is worth a thousand words. And this picture of smiling and obviously happy Chinese workers, prominently including beautiful women, greeting one of their leaders with obvious warmth, is a testament to the evidence that China is obviously on the right path. How can the U.S. compete with such an obviously superior system? Jack Smith, USA

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