Private Enterprises Benefit from Import-Export Trade

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Last updated at: (Beijing Time) Monday, June 24, 2002

Private Enterprises Benefit from Import-Export Trade

Private enterprises have become the mainstay of the foreign trade market as the restrictions imposed on their imports and exports are lifted.

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Private enterprises have become the mainstay of the foreign trade market as the restrictions imposed on their imports and exports are lifted.

Statistics from the Shenzhen Customs show that 521 million U.S.dollars-worth of commodities were exported by local private enterprises between January and May, 5.39 percent more the same period of last year.

Meanwhile, the foreign trade volume of all local enterprises totaled 30.104 billion U.S. dollars, up 18 percent year-on-year.

Imports accounted for 14.131 billion U.S. dollars, up 20.5 percent, and exports for 15.972 billion U.S. dollars, up 16.3 percent.

Experts attributed the hike to national policy changes before China's entry into the World Trade Organization.

Last August, the Ministry of Foreign Trade and Economic Cooperation issued a circular, promising to allow enterprises to import and export by themselves so long as their registered capital reached a certain amount.

Shenzhen, in south China's Guangdong Province, is among the first to lift such restrictions on small and medium-sized and private enterprises.

Analysts said that these measures had given private firms equality with state-owned enterprises and greatly boosted the flow of non-government capital into the foreign trade sector.

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