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Vice premier urges boosting foreign trade

(Xinhua)

08:06, July 06, 2012

BEIJING, July 5 (Xinhua) -- Chinese Vice Premier Wang Qishan on Thursday urged more efforts to boost the country's foreign trade, saying fulfilling the annual trade growth target will be "an arduous task."

"The current global economic situation remains grim, the uncertainties and unstable factors are rising. The external impact can not be underestimated," Wang said during an inspection of trade firms in east China's Jiangsu Province.

He demanded more measures to ease the difficulties of small- and medium-sized exporters in raising funds, as well as to expand import of advanced equipment, key components, energy and raw materials.

Exporters should strengthen research and development and tap the potential of the domestic market, while authorities should actively respond to trade frictions with foreign countries and protect the interests of Chinese firms, Wang said.

China targets a 10 percent growth in foreign trade in 2012 but its exports have slowed due to rising labor and raw material costs, shrinking external demand and worsening trade conditions.

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