Chinese govt to soon introduce measures to boost exports

27 Jul '13

2 min read

The Chinese Ministry of Commerce is working with various departments to frame measures to boost exports, according to the Ministry’s spokesperson Shen Danyang.

Replying to a question, Mr. Shen said the annual foreign trade situation is complicated and grim, and the Ministry is working with relevant departments of the State Council to take measures to support exports, and they would be soon introduced, the China Cotton Association reported quoting Xinhua news agency.

Mr. Shen said the leading indicators show that the second half export trend is not optimistic. He said the new exporter orders index has been below 50 percent for three consecutive months.

The Ministry of Commerce has undertaken a survey of 1900 key foreign trade enterprises, which reveals the cooling of export orders, and profit margins are increasingly narrowing, and the decline in export profit margins of firms have hit a new high of nearly four months.

In June, nearly one-third of the companies surveyed said the exports have declined this year compared t last year, which shows that the annual foreign trade situation is complicated and grim, Mr. Shen said.

In view of the situation, the Ministry is working on support measures, with a general idea to provide enterprises conducive environment for steady growth, stabilizing exports by reducing the cost of exports, and opening up new markets and laying stress on technology, brand, quality, and service.

Fibre2fashion News Desk - India

More Textiles News - China...