China set to boost int'l trade despite high chances of missing 2012 target
China Daily/Asia News NetworkBEIJING -- China's trade policies will become more open to boost its sluggish imports and exports this year, despite being set to miss its trade target for 2012, according to a senior official at a top government think tank.
January 5, 2013, 12:06 am TWN
China is losing some advantages, such as low labour costs, but future reforms will intensify its competitiveness, Wei Jianguo, secretary-general of the China Centre for International Economic Exchanges, told China Daily.
“It's expected that overall reform, ranging from the tax and fiscal system to the function of the government, will be accelerated in this year,” said Wei, the former deputy commerce minister.
This reform will be a “big bonus” to sustaining China's growth in all aspects, he said.