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Growing foreign trade surplus, a major concern

21
May '07
In the first quarter of 2007, Chinese foreign trade surplus increased rapidly, reaching US $46.438 billion, with year-on-year growth of 99.3 percent.

At present, Chinese government is inspecting all kinds of export preferable policies, but, the rebate policy will not be included because it doesn't belong to the export allowance policy.

The unnecessary export favorable policies will be modified or excluded. Government is aggressively trying to work out the new export schemes, which will help relieve country of the huge surplus.

The experts said that before China's accession to WTO, government thought, it would be very difficult for domestic enterprises to export products because of the underdeveloped industry. Hence, Administration sketched and issued many export favorable policies.

Analysts stress that such export favorable schemes are present in EU and US, but, they do not face such problems. They say that since the execution and layout of some Chinese policies is not appropriate, country has had to fight trade surplus crisis.

Fibre2fashion, News Desk - China


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