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Shanghai Securities News:

The China International Import Expo being held next year is a major step for the country to expand imports. Specifically, what will the Ministry of Commerce do in the future to increase import? Thank you.

Wang Bingnan:

I'd like to stress the expo is an important measure for the country to increase its openness to the outside world in a new era. The Chinese government highly values imports. In recent years, we have taken active and effective policies to increase imports through multiple channels. Since 2013, the State Council has launched a series of policies and measures covering taxation, financing, optimized management and facilitation, all aimed at expanding imports and achieving balanced trade. In the future, we will focus on the following three aspects:

First, we will improve our fiscal, taxation and financial policies to encourage import expansion. We will reduce tariffs on some consumer goods to increase the inward flow and improve the overall import structure. By adjusting the "Catalogue of Encouraged Technology and Product Imports", and encouraging banking and financing agencies to strengthen their support of import credits, we will expand purchases of advanced technological equipment and key parts.

Second, we will improve the supply-demand relationship, as well as trade conditions, step up integrated customs clearance procedures and strengthen the quarantine inspection system to further facilitate inward trade.

Third, we will continue with import management reform to streamline administration, delegate more powers, enhance regulations where necessary and provide better services. We will explore innovations in the government supervision model, and improve import management and related services. At the same time, we will improve the import promotion system, strengthen the platforms that can promote imports and make further innovations in import trade modes. Take auto imports for example: We have explored innovative ways for parallel importation. More active exploration in such sectors will be carried out in the future.

While carefully preparing for the first expo, the Ministry of Commerce and related departments will continue to implement the aforementioned documents and policies issued by the State Council, improve and refine various policies and measures, try to create a fair, law-based, internationalized and effective business environment, and promote continued, healthy and stable growth of foreign trade. Thank you.

Hu Kaihong:

This is the end of today's conference. Thank you.

By Li Xiaohua, GuoXiaohong, Huang Shan, Yuan Fang, Chen Xia, Zhang Rui, Li Jingrong, Wu Jin, Zhang Liying, Zhou Jing, Cui Can, Gong Jie, GuoYiming, He Shan, Xu Lin, Wang Wei, Layne Flower, Christopher Georgiou, Geoffrey Murray

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