Xinhua recently reported that on August 24 and 25, 2012, Chinese Premier Wen Jiabao visited Guangdong Province. During his visit, Wen made some public comments on the situation of China’s exports. He admitted that China is suffering the high pressure of an economic decline. The global market downturn has apparently impacted Chinese exports. Wen visited many export-oriented companies in Guangdong. He had several working meetings in which he suggested that actions must be taken in five areas: (1) the government must continue to implement and improve export policies that stabilize the export business; (2) companies should adjust their export business models to improve their scale and intellectual properties; (3) China must actively increase the importation of advanced machinery, key technical parts, and frequently used consumer products; (4) Export companies must be careful about trade friction and be positive on risk management; (5) China must put a bigger effort into fully utilizing foreign investments.
Source: Xinhua, August 27, 2012