China helps importers and exporters to lift growth

ChinaThe Ministry of Finance reported that China will offer 2.5 billion Yuan ($398 million) in loan subsidies to importers for purchases of advanced technological equipment, raw materials and other components. This is the latest central government effort to use fiscal spending to lift up growth and balance trade.

The money is allocated from the central budget. Beijing has allocated a total of 9.5 billion Yuan ($1,520 million) to offer interest discounts to importers since 2008, when the specialized fund was established.

Chinese imports fell 2.6 percent in August from a year earlier and exports increased only 2.7 percent, both missing investor expectations.

Beijing has already disclosed the way to help exporters and importers which including easing access to loans and speeding up refunds on tax rebates.

Besides above plan to help importers and exporters, China would also suspend inspection and quarantine fees for all goods coming in and out of China for the rest of this year to shield exporters and importers from the global economic downturn.

China is expected to report on October that annual economic growth probably slowed for a seventh straight quarter in the July-September period to the weakest level since the depths of the global financial crisis.

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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