x

China to setup 10 demonstration zones to promote imports

By Luo Shanshan, People’s Daily

Nine departments and institutions in China announced on Nov. 4 that the country plans to set up 10 demonstration zones to promote imports by creative means, said Li Xingqian, headof the foreign trade department under the Ministry of Commerce (MOC), at the National Exhibition and Convention Center (Shanghai).

The MOC, together with the National Development and Reform Commission, the Ministry of Finance, the People’s Bank of China, the General Administration of Customs, the State Administration for Market Regulation, the State Administration of Foreign Exchange andthe National Medical Products Administration, made the announcement of the move ahead of the opening of the third China International Import Expo (CIIE).

The 10 demonstration zones will be set up in Shanghai Hongqiao Central Business District; Jinpu New Area in Dalian, northeast China’s Liaoning province; Kunshan, east China’s Jiangsu province; Yiwu, east China’s Zhejiang province; Hefei Economic and Technological Development Zone, east China’s Anhui province; Huli district, Xiamen, southeast China’s Fujian province; Qingdao West Coast New Area, east China’s Shandong province; Nansha district, Guangzhou, south China’s Guangdong province;Tianfu New Area, southwest China’s Sichuan province; and Xi’an International Trade and Logistics Park innorthwest China’s Shaanxi province.

Covering the eastern, central and western regions as well as the old industrial base in northeast China, the demonstration zones include sea, land and air ports, reflecting the impetus and potential of China’s import capability.

In recent years, China has continuously lowered the overall level of tariffs andpromoted trade facilitation, achieving positive results in expanding imports.

China boasts a vast domestic market with huge potential, and has a middle-income group comprised of over 400 million people.

Chinese people’s demands for a better life have been constantly raised, and the country’scontribution to the world’s total imports has continued increasing.

Data from the World Trade Organization (WTO) suggest that China’s imports accounted for 11.3 percent of the world’s total in the first half of this year, up 0.8 percentage point year on year from the previous year, hitting a record high.

China’s imports have played a more significant role in stimulating global economic recovery.

The demonstration zones are designed to promote imports, development of relevant industries, and consumption, as well as innovation in trade in such areas as policy, services and models.

Against the backdrop of raging COVID-19 pandemic, sluggish world economy and complex and severe trade situation this year, the Chinese government is still unswervingly facilitating the cultivation of demonstration zones and actively expanding imports, which has fully demonstratedthe country’s firm determination to deepen its opening-up and promote trade liberalization, noted Li.

Focusing on a new round of high-level opening-up, the MOC will continue to implement a series of policies and measures to expand imports of advanced technologies, equipment and services, support imports of products related toimproving people’s livelihood, encourage efforts to develop new forms of businessinthe industry, optimize the marketing patternsof imported goods, improve regulatory facilitation, and support the demonstration zonesin creating new prospects for the innovative development of imports.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Neomercantilism: Trump’s New Tariff Regime And American Economic Uncertainties

By Sheriff Ghali Ibrahim,  AbujaMercantilism as the art and...

Seadogs donate sanitary pads to female students in A’Ibom 

By Ogenyi Ogenyi,Uyo The National Association of Seadogs, (NAS), also...

N/Delta communities demand urgent action on methane emissions

By Ogenyi Ogenyi, Uyo  Representatives of communities affected by oil...

Plateau  commence  enforcement of regulations on vehicles transporting  spillable goods 

By Isreal Adamu, Jos Plateau Environmental Protection and Sanitation Agency...

Plateau  South  APC group   Passes Vote of Confidence on Speaker Dewan 

By Israel AdamuA group operating under the umbrella body...

Igali Calls for Inclusion of Canoeing, Kokowa at the National Sports Festival

By Amgber KumoBayelsa State Commissioner for Sports Development, Dr....

N10bn Alleged Loot: EFCC Probes SGF Akume’s PA ,Torhile Uchi

Indications emerged that the personal Assistant to the Secretary...
spot_img

Related Articles

Popular Categories

spot_imgspot_img