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Import And Export Policy Unchanged Encourage Overseas Mergers And Acquisitions

2008/8/28 11:06:00 28

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Import And Export Policy Overseas Merger And Acquisition National Policy

At present, China's dependence on foreign trade is more than 2/3, and the orientation of foreign trade export policy will not change significantly. It will continue to relax its containment efforts on some low-end products, and encourage Chinese enterprises to accelerate overseas mergers and acquisitions by using the subprime crisis and RMB appreciation.

Fu Ziying, Vice Minister of Commerce of China, said at the sixth annual conference of China's import and export enterprises in April 26th that China's dependence on foreign trade is more than 2/3. There will be no big change in the policy orientation of steady growth of foreign trade exports this year.

Fu Ziying also pointed out that under the situation of severe export situation in China, the policy of expanding imports can not be changed. This is because the pressure of China's balance of payments imbalance is still very large, and it is also the need to safeguard China's economic development.

Zhang Xiaoqiang, deputy director of the national development and Reform Commission, also pointed out that in the future, we should give full play to the role of imports in stabilizing the market. In particular, we should increase imports of key components and technologies of raw materials, energy and high-tech products, and reduce import costs as much as possible, so as to play a role in stabilizing market prices.

Zhang Xiaoqiang said at the meeting that China should not be afraid to encourage exporters because of weaker demand from the US, EU and Japan.

"The problem you may worry about last year may be trade friction," he said. "But if you are worried about how to reduce corporate bankruptcy today, the primary task is to help them survive."

Li Ling, director of the Fair Trade Bureau of the Ministry of Commerce and trade, pointed out at the meeting that global trade slowdown may lead to more trade complaints.

This year, global economic growth is slowing down. In some countries, trade protectionism is likely to rise. Chinese exports are expected to remain strong, which may trigger other countries to launch countervailing, anti-dumping and protective measures against China.

Due to the impact of the subprime crisis, according to the data available, China's textile exports to the US have dropped for five consecutive months.

Fu Ziying, Vice Minister of Commerce, listed the experience of German and Japanese enterprises and encouraged Chinese enterprises to accelerate the pace of overseas mergers and acquisitions with the help of sub prime mortgage crisis and RMB appreciation.

Fu Ziying said at the sixth annual meeting of China's import and export enterprises. Because of the tight liquidity in the US financial market due to the subprime mortgage crisis, some private enterprises and institutions have been in a temporary predicament, providing good opportunities for mergers and acquisitions for Chinese enterprises.

"These enterprises have well-known brand and strong international marketing network, have strong R & D ability, if our enterprises can succeed in merger and acquisition, these advantages can be all of me, can greatly promote the international competitiveness of Chinese enterprises."

Fu Ziying said.