"Foreign Trade Situation and Policy Orientation" - Fu Ziying, Deputy Minister of the Ministry of Commerce, attended China Import & Export Enterprises 6th Annual Conference and delivered a speech

Fu Ziying, Deputy Minister of the Ministry of Commerce, pointed out that due to the subprime lending crisis broke out in America, both the increase of world economy and international market demand slowed down this year, which exerted great effect on domestic export enterprises but meanwhile provided golden opportunity for domestic enterprises to merge and acquire foreign enterprises and research institutions; it was no longer possible to occupy international market by relying on low price in the future; the national policies orienting toward keeping the steady growth of export, further optimizing export commodity structure and shifting the development mode of foreign trade would not be changed; China would continue to reduce the export of the products of high pollution and high energy and resources consumption by reasonably employing such measures as export tax refund, customs and market access; meanwhile, China would deeply implement the strategy of reinvigorating trade through science and technology, encourage export enterprises to conduct technical improvement and independent innovation and expand the export of the products of our own brands and intellectual property rights; the export of labor-intensive products such as light industry and textile products needed to keep steady growth, but it had to adapt to the need of industry upgrade and increase the technical contents and added value of the products.