MOFCOM: China to Actively Take Measures to Expand Import

According to Chong Quan, Deputy China International Trade Representative of the Ministry of Commerce (MOFCOM), China will take measures to gradually expand import, improving the import and export balance.

He also said that China has a vast market space and great development potential, and China's domestic market in 2010 is expected to reach USD 2 trillion, way higher than the total export value.

As per Chong Quan's remarks, China will steadily push forward market liberalization as always and actively take measures to expand import to promote the development of trade balance.

First, China will continue adjusting and optimizing the import structure. Encouraging the import of commodities and technologies needed in domestic economic and social development and people's livelihood, especially resources, advanced technologies, and key equipments in short supply domestically; properly handling trade frictions and disputes, striving to expand import from the main surplus countries to promote trade balance as far as possible; and constantly optimizing the structure of import tariffs.

Second, further improving the level of trade facilitation. Further clearing of non-tariff measures and continuing simplifying and relaxing part of the import management measures to reduce import procedures and formalities as well as import expenses and costs.

Third, constantly improving the system of import promotion. Establishing and improving service system of import public information; holding various exhibitions, fairs, and presentations for imported commodities; studying and applying various financial and taxation measures to support the expansion of import; supporting and organizing various forms of investment and trade promotion missions to go to relevant countries to conduct investment and trade promotion activities.