¡¡ The Chinese Ministry of Foreign Trade and Economic Cooperation (MOFTEC) announced October 25 that it has issued a circular authorizing high-tech companies to do export and import business.

¡¡ It is stipulated in the circular that State-owned or collectively-owned research institutes and hi-tech firms which have a registered capital over 2 million yuan each and have their own products or technologies to export may apply for the registration of rights to do export and import business.

¡¡ Locally-registered institutes and high-tech companies are to file their applications to local foreign trade authorities where they have registered, and those registered at the State Administration for Industry and Commerce are to apply to local authorities at their business location, according to the circular.

¡¡ In addition to this new move, the State foreign trade authorities are to create even more favorable conditions for all kinds of enterprises to do import and export business. (Xinhua)