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China will actively promote the transformation and upgrading of processing trade.
Published Time：
2010-07-10
The Ministry of Commerce held a symposium on the transformation and upgrading of processing trade in Suzhou, Jiangsu Province from July 1st to 2nd. Vice Minister Jiang Yaoping stated that processing trade conforms to China's national conditions and is an important way for China to utilize domestic and international resources and markets, alleviate employment pressure, improve the development level of industries, and enhance international competitiveness. China will actively promote the transformation and upgrading of processing trade.
| The Ministry of Commerce held a symposium on the transformation and upgrading of processing trade in Suzhou, Jiangsu Province from July 1st to 2nd. Vice Minister Jiang Yaoping stated that processing trade aligns with China's national conditions and is a crucial method for utilizing both domestic and international resources and markets, alleviating employment pressure, improving industrial development levels, and enhancing international competitiveness. China will actively promote the transformation and upgrading of processing trade. ???? Over the 30 years of reform and opening up, China's processing trade has achieved rapid development, with continuous expansion in volume and gradual improvement in industrial levels. It has become a major component and driving force of foreign trade and foreign investment. Processing trade import and export volume has increased from US\$1.67 billion in 1980 to over US\$1 trillion in 2008, accounting for half of China's foreign trade. The development of processing trade has played an important role in expanding employment, optimizing industrial structure, promoting technological progress, strengthening economic and trade relations with Taiwan, Hong Kong, and Macao, and driving socio-economic development. ???? Jiang Yaoping stated that promoting the transformation and upgrading of processing trade is a significant and urgent strategic task clearly defined by the Central Committee of the Communist Party of China and the State Council. It is necessary for implementing the Scientific Outlook on Development, a necessary requirement for achieving sustainable and coordinated national economic development, and an important measure to transform the mode of foreign trade development and enhance sustainable development resilience. Since August 2008, the international financial crisis has severely impacted China's processing trade. Currently, processing trade has achieved recovery growth, but the foundation for this growth remains unstable, and processing trade faces increasingly severe internal and external pressures. Currently, the transformation and upgrading of processing trade also faces new opportunities presented by a new round of global optimization and restructuring of production factors and industrial transfer. In the coming period, global industry will be in a stage of rapid adjustment and integration, and the trend of internationalization of R\&D, service outsourcing, and cross-border transfer of high-end manufacturing will continue to strengthen. Through transformation and upgrading, China's position in international division of labor will continue to rise. In recent years, coastal provinces and cities in eastern China have continuously explored new approaches to promoting the transformation and upgrading of processing trade under the new situation and have accumulated successful experiences. Guangdong Province has established a special fund of 1 billion yuan for the transformation and upgrading of processing trade, guiding more than 10,000 processing trade enterprises without legal person qualifications to implement transformation. Suzhou City has identified ten directions for the transformation and upgrading of processing enterprises: headquarters economy, productive services, R\&D brands, cooperation between domestic and foreign investment, industrial clusters, domestic and foreign sales, quality and efficiency, low-carbon environmental protection, and high-end manufacturing. ???? Jiang Yaoping said that the transformation and upgrading of processing trade cannot be separated from China's reality. It should adapt to the pace of China's economic development level and industrial structure adjustment, follow market laws, be tailored to local conditions, proceed step by step, continuously summarize experiences, and continuously explore development paths. Based on summarizing the experiences of various places, the Ministry of Commerce will, together with relevant departments, expedite the revision and improvement and release of the "Guiding Opinions on Promoting the Transformation and Upgrading of Processing Trade" to promote the transformation and upgrading of processing trade nationwide. ???? The symposium was attended by responsible persons from the Office of the Central Leading Group on Finance and Economics, the Ministry of Finance, the Ministry of Human Resources and Social Security, the General Administration of Customs, the State Taxation Administration, and the foreign economic and trade departments of eastern coastal provinces and cities such as Beijing and Shanghai. Commerce departments of Guangdong and Jiangsu, the Suzhou municipal government, and enterprises such as Suzhou Samsung Semiconductor Co., Ltd. and Jiangsu Sunlight Group made exchange speeches and discussed the improvement of relevant policies for the transformation and upgrading of processing trade. |
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