China to relax policy on exports by foreign Cos

BEIJING, Sept. 25 (Xinhuanet) -- Vice Minister of Commerce Wei Jianguo has announced that China will further relax its export restrictions on foreign companies in the country, China Radio International reported Friday.

Vice Minister of Commerce Wei Jianguo announced this Thursday in central China's Wuhan city.

He says that to promote exports and thereby develop Chinese manufacturing, China will permit foreign investors to set up their own export purchasing centers in some regions on the mainland.

This means foreign investors can develop wholly-owned export businesses and enjoy the same tax refund and other preferential policies as Chinese enterprises. Enditem