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China puts new curbs on processing trade to address trade imbalance (2) |
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08:05, July 24, 2007 |
The new policy shall not affect enterprises in the western regions.
Customs data shows the nation''s processing trade volume in the first six months rose 17.6 percent to 440.9 billion U.S. dollars, accounting for nearly half of the China''s imports and exports.
China has seen its processing trade volume jumping from 2.5 billion U.S. dollars in 1981 to 831.9 billion U.S. dollar in 2006.
Since 2003, the Chinese government has been trying to encourage transnational companies to shift their high-tech and high-value-added processing businesses and relevant research institutions to China to advance its industrial capabilities.
"We will continue to improve the categorization of processing industries and set stricter entry standards for enterprises engaged in the processing trade," said Wei.
Source: Xinhua
[1] [2]
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