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Commerce Ministry boosts exports


04-22-2016 16:22 BJT

The Commerce Ministry says the government has issued a number of supportive measures for China's exports. The ministry also says China will continue to bolster its foreign trade sector despite the external headwinds.

"Taxation and finance measures will be adopted. We would encourage financial institutions to loan to foreign trade-related, and profitable businesses," said Qian Keming, Deputy Commerce Minister.

"We would enlarge the insurance scope for exports to cover large-scale equipment. We aim to improve the taxation structure and raise certain machinery exports' rebates."

Other ministry measures include comprehensive packages to transfer processing plants from coastal areas to inland, the establishment of centers to boost sales and marketing, and streamlining the customs clearance process.

The moves come after Premier Li Keqiang called for more support for China's foreign trade during a state council meeting Wednesday.

Weak global demand and a slowing domestic economy have hampered China's foreign trade, which fell 7 percent year on year in 2015. But March data provided some relief as exports surged nearly 19 percent year on year.

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