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China to Help More Processing Plants Compete Globally
China will soon come out with new policies encouraging more of its processing enterprises to venture out beyond the nation's borders. The State Economic and Trade Commission will issue policies, making it easier for those companies to get involved in international competition. A commission official made the announcement during a seminar in Qingdao.
Zhang Zhigang, vice-director of the State Economic and Trade Commission said the new policies will promote the healthy development of the external processing trade.
For starters, he said, the application procedures will be simplified, increasing efficiency.
And, regulations which currently hinder direct involvement in international competition will be no longer be in effect. Zhang also said unnecessary government interference will be reduced.
He said, the government should provide rich market information and legal assistance for the domestic businesses. This will help the processing enterprises get a better picture of the world market's current supply and demand.
The processing trade has been one of China's major external investments. By the end of 1999, six thousand Chinese businesses were engaged in the external processing trade.
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