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Meeting sets tone for foreign trade in 2009
24
Dec '08
Mr Chen DeMing, Minister of Commerce
Mr Chen DeMing, Minister of Commerce
"In expanding domestic demand, we must attach great importance to external demand too, and try in all ways to stabilize export growth", said Mr Chen DeMing, Minister of Commerce at the National Business Conference held yesterday in Beijing.

He added by saying that, "We must not ignore external demand, business investment will decline on poor outlook of market demand, employment and worker's income will also decline if exports shrink dramatically. The factors may also affect domestic consumption.”

He continued by saying, “Nearly 60 percent of China's exports are directly or indirectly to the United States, the European Union and Japanese markets and now that these three economies have entered recession, China will have to put in greater efforts to make up for the loss and at the same time difficulties for China to expand exports to emerging markets and developing countries will also increase.”

Regarding other measures, Chen DeMing said, while continuing to consolidate traditional markets like the United States and Europe and Japan, it is necessary for China to speed up the implementation of diversified market strategy and actively guide enterprises to fully understand the role of emerging markets.

Enterprises should adopt small orders with thin profits, work hard and made great efforts to tap other emerging economies and developing export markets, such as South Asia, the Middle East, Central Asia, South America and Eastern Europe.

According to the China General Administration of Customs data released this month, in November, China's total imports and exports reached US $189.89 billion, down 9 percent year-on-year; of which, exports registered $114.990 billion, down 2.2 percent and imports scored $74.900 billion, down 17.9 percent.

The comprehensive measures to be taken up by the Ministry of Commerce in the future include policy means, such as lower tariffs, discount interest for imports, expanding imports of advanced technology and equipment, key parts and components. The Ministry will continue to implement measures, like import facilities, simplifying procedures and reducing restrictions.

The outside world considers that this meeting will set the tone of China's foreign trade for next year.

Fibre2fashion News Desk - China

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