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Chinese vice premier urges to take practical measures to facilitate trade

Xinhua, October 9, 2015 Adjust font size:

Chinese Vice Premier Wang Yang on Friday urged local governments to take practical measures to facilitate foreign trade, including cutting fees and broadening financing channels.

Wang made the remarks at a symposium specially convened for foreign trade.

Prominent problems emerged as China piloted new business models including cross-border e-commerce and integrated service enterprises on foreign trade, according to Wang.

These problems must be solved and new growth points cultivated, Wang said.

China is under huge downward pressure on foreign trade in the fourth quarter, the vice premier said. In the first eight months of 2015, foreign trade slipped 7.7 percent year on year to 15.7 trillion yuan (2.5 trillion U.S. dollars), the General Administration of Customs figures showed.

The country will carry on its economic restructuring and upgrading efforts in order to pave the way for a continuous growth of foreign trade, Wang added. Endi