CHINA / National |
Rise in imports to cut trade surplusBy Jinag Wei (China Daily)Updated: 2007-05-15 07:03
Beijing will introduce a number of measures to increase imports in a bid to narrow the country's trade surplus. "We will work hard to balance imports with exports through promoting and facilitating imports," said Wang Shouwen, director of the commerce ministry's foreign trade department, in an online interview. China's trade surplus jumped more than 74 percent year-on-year to $177.5 billion in 2006. It has risen 88 percent year-on-year to $63.3 billion in the first four months this year. "We are studying loan policies to encourage imports," Wang said. The government will also adopt economic measures, such as tariffs, to increase imports of key equipment, and advanced technology. Domestic enterprises are being encouraged to take advantage of bilateral trade arrangements, Wang said. He referred to the Bangkok Agreement, Closer Economic Partnership Arrangement with Hong Kong and Macau (CEPA) and China's free trade pact with Pakistan, and the Association of Southeast Asian Nations, which include items on tariff reduction or removal. China has already removed tariffs on imports from 34 least developed countries in 442 categories. Imports from these countries are encouraged. "In the next step, we will strengthen cooperation with the General Administration of Customs, and General Administration of Quality Supervision, Inspection and Quarantine to facilitate imports and clearance," Wang said. China is making efforts to ease concerns over its trade imbalance by encouraging overseas investment, optimizing exports, upgrading its processing trade, and encouraging domestic consumption.
(China Daily 05/15/2007 page3) |
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