Exporters set to get tax boost
Updated: 2012-02-21 07:12
By Ding Qingfen and Gao Changxin (China Daily)
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As an exporter of Christmas presents, Guangzhou Kingway Gifts felt the consequences of the sluggish global economy as it suffered a 30 percent fall in sales last year.
"Higher export tax rebate rates would help us get through the difficult patch and prevent the hardest-hit from going bankrupt," said Shen Hui, the company's general manager.
Currency policies will also be stabilized, Zhong said, to help companies cope with currency fluctuations.
During a recent visit to Guangdong, Premier Wen Jiabao said that China will try to maintain basically "stable" foreign trade policies, adding that any adjustments, if made, should be more "encouraging than restrictive".
The measures will help maintain growth, Wang Shouwen, director of the department of foreign trade with the Ministry of Commerce, said.
The relevant measures and policies will help export growth to possibly reach 10 percent this year, he said.
While the outlook for developed economies is grim, China will "prioritize emerging markets", Zhong said.
China's exports in January to the EU, the largest destination for made-in-China goods, fell 3.2 percent year-on-year as the EU sovereign debt crisis slashed demand of Chinese goods.
Emerging markets
However, shipments to the emerging markets, such as Brazil, surged during the same period.
But tapping emerging markets does not mean giving up on developed ones, Zhong said.
"They (developed markets) are still much too important for us," he said.
Zhong also urged exporters to move to inland areas.
"China's central and western regions will also be strategically important" in stabilizing exports over the next five years, Zhong said.
By 2015, the ratio of the foreign trade stemming from central and western regions, when set against the rest of the nation, will "rise by 5 percentage points", he said, without revealing the current ratio.
Relocation has proven to be an effective tool in slashing costs for exporters. Wenzhou-based shoe maker China Juyi Group has moved some of its manufacturing lines from Zhejiang to Anhui province, where labor and land costs are lower.
"Many enterprises in Wenzhou are doing the same while costs in the eastern coastal areas surge," said Luo Li, Juyi's deputy general manager.
Li Wenfang in Guangzhou contributed to this story.
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