»»China to Ease Import Rules for 338 Products
In the effort to narrow the country’s record trade surplus and help manufacturers to bring in components and materials, China will ease import rules for 338 types of products.
Starting April 1, Chinese companies won’t need licenses to import hot-rolled and cold-rolled steel, plastics, machinery, electronics and other products, according to a statement China’s commerce ministry.
Commerce Minister Bo Xilai is seeking to make it easier to import to the world’s fourth-largest economy to forestall trade disputes that may arise from China’s record trade surplus.
The gap may swell to $257 billion next year from a record $177.5 billion in 2006, according to the Asian Development Bank. Read more…
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