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Guangdong Encourages Private Firms to Deal in Foreign Trade
The government of Guangdong Province in south China has issued a series of policies recently to encourage more private firms to engage in foreign trade.
A circular urges local governments at all levels to create favorable conditions to promote the growth of private foreign trade companies for the development of a broad-based economic and trade system.
The circular also asks local governments and related government departments to drop biased policies against private companies involved in foreign trade and to introduce policies that equally treat state-owned, collectively-owned and privately-owned foreign trade businesses, so that they can compete on an equal footing.
According to the new policies, private foreign trade companies in Guangdong are entitled to enjoy state policies formulated to spur export and raise the inflow of overseas investment, covering financial support, tax reduction and exemption, exit and entry inspection and quarantine, among others.
Private foreign trade companies in the province are encouraged to attract more foreign capital and will get genuine aids when they apply for permits to organize import and export. Their business representatives will also be given convenient services in completing procedures for overseas trips.
Guangdong is one of China's leading foreign trade players. It did 140.35 billion U.S. dollars in imports and exports last year,a rise of 8.13 percent over 1998.
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