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1,000 Private Enterprises Get Permission to Export
More than 1,000 private enterprises in China have been granted the right to engage in direct import and export by the end of October this year.
This was an important measure taken by the Chinese government to support non-state enterprises to take part in global market competition, said Sun Zhenyu, vice-minister of the Ministry of Foreign Trade and Economic Cooperation, at the first Non-state Enterprises Fair being held in Kunming, capital of southwest China's Yunnan Province.
These private enterprises have a combined registered capital of 10 billion yuan. The majority is large in scale and performs well.
The non-state enterprises have grown steadily in the wake of China's economic reforms. They have a brilliant future in an open economy, Sun said.
During the Autumn session of the Guangzhou Export Commodities Trade Fair, the transaction value done by private enterprises totaled 110 million U.S. dollars, two times the value of the previous session.
Dong Fureng, a well-known Chinese economist, said the non-state enterprises in China should seize the opportunity of China's entry into the World Trade Organization to gain a rapid growth. They
should make the best use of their advantage of flexibility and avoid the weakness of having small scale enterprises, old inefficient equipment and bad information involving development.
He urged entrepreneurs at private enterprises to study legal documents and regulations in relation with the WTO to protect their legitimate rights and interests.
The five-day fair will run until December 12.
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