China releases guidelines on expanding imports

BEIJING - China on Monday publicized guidelines on expanding imports for balanced foreign trade, with policy incentives detailed in several areas.

China should keep exports stable while at the same time further expand imports, according to the guidelines, which were approved and released by the State Council.

China will optimize the structure of imports to support upgrading production and consumption, with tariff cuts in certain products and clean-up of unreasonable price mark-ups, the guidelines said.

Policy incentives will be given to imports of daily consumer goods, medicine, and equipment for rehabilitation and elderly care.

China will optimize the layout of its international market, focusing on the expansion of imports from countries related to the Belt and Road Initiative.

China will also actively explore multiple channels to boost imports, including hosting the China International Import Expo.

The country's investment environment should be improved so that foreign investment could play an important role in boosting imports, the guidelines said.

The country will further facilitate trade through cultivating pro-import platforms and strengthening intellectual property rights protection, the guidelines said.