MOC: China should maintain continuity and stability of export rebate policy

Tuesday, 17 August 2010 17:06:09 (GMT+2)

On August 16, Zhong Shan, deputy minister at China's Ministry of Commerce (MOC) and also the newly-appointed MOC deputy international trade negotiation representative, stated that Chinese export competition with developed countries and developing countries has been on the increase. Mr. Zhong said that in 2009 Chinese exports accounted for 9.6 percent of total global exports; however, at the same time, antidumping (AD) cases concerning Chinese products accounted for 40 percent of all AD cases worldwide, while countervailing cases concerning China accounted for 75 percent of all global countervailing cases.

Mr. Zhong said that only 10 percent of Chinese exports are constituted by domestic brands. He expressed the view that financial support should be given to foreign trade, with the focus on structural adjustment and upgrading of foreign trade, while he also said that China should maintain the continuity and stability of its export rebate policy and that its tariff duty structure should be optimized. As for monetary policy, Mr. Zhong said the Chinese government should keep the currency exchange rate stable.

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