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 senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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