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To: GreenKeeper who wrote (22586)	8/6/1999 7:21:00 AM
From: allen v.w.	Read Replies (3) \| Respond to of 40688

China Set To Liberalize Export Rights SHANGHAI, Aug 5, 1999 -- (Agence France Presse) China will soon unveil wide-ranging measures to loosen bureaucratic controls that have long inhibited the country's exports, State Economic and Trade Commission deputy director Zhang Zhigang has said. Thursday's China Securities daily quoted him as telling a meeting on Wednesday that the state "is now adopting" a series of policies to boost flagging exports by reducing regulatory burdens. The reforms aim to invigorate export activity by firms that are licensed to carry out foreign trade but outside the import-export sector, such as manufacturers. “The government has decided to make export processes more convenient by slashing red tape and getting rid of unnecessary inspection procedures,” Zhang said. “Approval requirements for importing and exporting goods will also be lowered and fees related to inspections and customs will be cut. On the financial side, the reforms promise greater access to export loans and other support. The loans' scope will be widened so they can cover multiple product categories,” he added, pledging longer repayment periods. Beijing also plans to actively develop export-credit insurance, which although widespread in developed economies is largely unavailable in China. The country's exports began a prolonged nosedive last September, after slowing steadily since the onset of the Asian financial crisis two years ago. According to customs figures, they were down 4.6 percent year-on-year in the first half of 1999. The government has hit back by raising export-tax rebates twice since the start of the year, raising average rates by a total of 5.51 percentage points. ((c) 1999 Agence France Presse)