China likely to announce new policies to curb growth of processing trade: MOC
26/7/2007 17:21
The Chinese government is likely to again implement new policies this
year to curb the growth of processing trade, an official with the Ministry of
Commerce (MOC) said yesterday.
Wang Qinhua, an MOC official in charge of the
mechanical and electrical industry and the scientific and technological sectors,
said the government would probably limit or ban the processing trade of
high-polluting and high-energy-consuming industries within the year based on
studies of the domestic and international markets.
The products covered would
come from the list of commodities that have been cut or had their export tax
rebates removed in June, said Wang, adding that the ministry was consulting
relevant departments and local governments on the issue.
Wang said the
customs authorities would take environmental protection and social security into
consideration to set stricter entry standards for enterprises engaged in the
processing trade.
Meanwhile, the government would continue to encourage
labor-intensive industries to shift from the eastern regions to the central and
western areas, the official said.
The Chinese government on Monday announced
a new policy that seeks to curb the development of the processing trade in
labor-intensive industries covering 1,853 products in plastics, furniture and
textiles and other industries. The policy will take effect on Aug. 23.
On
June 19, the ministry announced that, starting July 1, the country would cut or
eliminate export tax rebates for 2,831 commodities representing 37 percent of
the total number of items listed on customs tax regulations to suppress
overheated export growth and ease frictions between China and its trade
partners.
Customs data show the nation's processing trade volume in the first
six months rose 17.6 percent to US$440.9 billion, accounting for nearly half of
the China's imports and exports.
China has seen its processing trade volume
jumping from US$2.5 billion in 1981 to US$831.9 billion in 2006.
Xinhua
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