BEIJING, Jan. 12 (Xinhua) -- China's 2016-2020 development plan for foreign trade, lately released by the Ministry of Commerce (MOC), is quite noteworthy for the set up of structural adjustment target instead of quantitative target for growth.
China's foreign trade development has to shake off the obsession with growth but focus on long-tern structural adjustment and new advantages and growth engines cultivation in a bid to grow from a large trading power to a strong one, said an official with MOC
The plan puts up to prioritize structure in five aspects, including international market layout, domestic regional layout, foreign trade product structure, business entity structure, and trading method, and to promote transformation in five aspects, including export form, competitive edge, growth momentum, business environment, and China's status in global economic governance.
To achieve these targets, China will improve its policy system for foreign trade, deepening reforms in foreign trade management mechanism, improve fiscal and taxation policies, enhance financial services and public services. Meanwhile, China would fully exert the influence of bilateral investment on foreign trade, promote linkage between foreign investment and trade, and improve the quality and level for foreign fund usage.
Specifically, China would encourage and support financial institutions to loan money to foreign trade enterprises with effective orders and profits through flexible use of circulating fund and external guarantee. Meanwhile, China will enhance development of national economic and technological development zone as well as industrial parks of all kinds, and further open its manufacturing industry to foreign investors.
Besides, China would encourage its home-made equipment to go abroad and promote international capacity cooperation so as to drive exports of China's products, technologies, standards, and services. Enditem (Edited by Li Xiaohui, lixh@xinhua.org)
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