The State Council's circular today makes
commitments to reforms to facilitate the economic interaction
between China and the rest of the world.
It pledges to further reform on the management
system for the foreign trade.Customs procedures are expected
to be streamlined. Rules to clarify the principle deregulating
foreign trade business will be formulated as early as possible.
The administrative approving process will
be fast tracked. The government will function more effectively
on policy making, statistics and monitoring, negotiations
and providing public information. Industrial associations,
on the other hand, should improve their role in disciplining
and coordination.
Laws and regulations governing the foreign
trade should be refined. And persistent efforts should be
made on pushing forward the establishment of the system
for foreign trade promotion and credit.
With regard to the management of foreign
investment, foreign investors will have better signposts
for industries which particularly welcome foreign fund in
China. Specific policies will be made or improved to give
incentives to foreign capital's participation into the development
of the country's mid-west, the revival of its northeast
and the overhaul of its state-owned enterprises.
Foreign-funded businesses will also be
put under more efficient supervision.
Regulations on investment on the overseas
market by Chinese enterprises are called for. A guideline
encouraging Chinese enterprises to build their international
strategy will be worked out. Those which have made presence
on the overseas market will face stricter supervision. State-owned
assets involving in global operation, in particular, will
be put under close watch.
An effective mechanism is necessary to
ensure a smooth transition of various sectors, especially
the key fields, toward the post WTO era. A pre-warning system
for trade frictions and concerted actions between different
departments are both supposed to work better.
Anti-dumping, anti-subsidies and safeguard
measures are to be included in a system of industrial relief
and safeguard in line with the WTO rules.
Source:People's Daily
