BEIJING: The General Administration of Customs (GAC) has rolled out 18 measures to buoy China’s sinking foreign trade, its spokesperson said Wednesday.
Customs procedures have been streamlined, raising customs clearance efficiency by around 50 percent, Zhang Guangzhi told a news briefing.
Foreign trade fees have been lowered or eliminated to reduce enterprises’ financial burden, he said.
The GAC has also slashed six items subject to government approvals or review for trade-oriented manufacturers.
The world’s largest goods trader, China’s foreign trade is under heavy pressure this year due to an economic slowdown and a faltering global recovery.
GAC data showed that foreign trade dipped 8.1 percent year on year in the first ten months of 2015, while the annual target is a 6-percent increase.
“It seems impossible to reverse the trend within this year. What we can only do is to narrow the decline,” said Bai Ming, a senior trade researcher with the Ministry of Commerce.
