China Released Details that will Support Imports of HIgh Tech Products
Last Thursday the country released detailed measures that will support imports of high tech equipments, consumer goods and resource products as part of the efforts that country is taking to support the cooling of the economy. Furthermore the government will be encouraging banks to expand credit support for all imports of high tech equipment and its key components that will promote industrial upgrading.
Local firms will also be encouraged to speed up overseas investment, to develop offshore energy resources and to ship strategic resources back to China that will help stabilize the supply of energy and other resources. Furthermore the country also aims to improve its national reserve system on resources and to support all enterprises in establishing their own commercial reserves.
To push the imports of consumer goods, the process of signing quarantine agreements with relevant countries will be sped up especially imports on aquatic products, fruits, mutton and beef that will make use of the massive foreign exchange reserve in the country. This is part of the latest move to boost imports and help in the restructuring of the economy and rebalance trade.