China eyes foreign trade in stabilizing growth

BEIJING - China will further improve its foreign trade environment to ensure steady growth of imports and exports, and cultivate its advantages in international competition.

Clearance efficiency in port customs will be further increased, and a nationwide clearance system established, according to a statement released after an executive meeting of the State Council presided over by Premier Li Keqiang on Wednesday.

The cabinet stressed increasing imports of advanced technology, equipment and key components, as well as foreign consumer goods with great domestic demand, in an effort to promote industrial upgrades.

It also pledged to stabilize the exchange rate of the yuan at a reasonable and balanced level, and to facilitate renminbi settlement to help enterprises avoid risks in cross-border trade.

The cabinet also stressed more support to small businesses, as well as the development of emerging markets.

Administrative and service fees in import and export links will be regulated to prevent arbitrary charges. Enterprises which successfully pass port inspections should be exempt from certain charges.

The meeting also highlighted support for cross-border e-commerce and foreign trade service companies, to facilitate the stable development of imports and exports and boost economic growth.