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Focus on boosting exports

Updated: Jan 29,2015 10:50 AM

The State Council executive meeting on Jan 28 held a two-hour discussion on how to fast-track exports of industrial equipment that had been made in China.

The meeting outlined ways to boost the “Going Global” process of the rail, nuclear power and construction material industries.

Premier Li Keqiang noted that the economy has been growing with its globalization drive, and further opening up “is imperative”.

Expanding the manufacturing capacity and availability of Chinese-made equipment and enhancing international cooperation in production “reflects a great opportunity to boost industrial transformation and upgrading”.

This will also prompt the economy to move toward a medium- and high-end paradigm, according to the Premier.

Such international teamwork will help address challenges brought by downward pressure facing the economy that has lately hampered traditional commercial imports and exports, Li added.

“Now it is high time for ‘exporting industries’,” Li said.

Industrial equipment manufactured in China deserves more focus on improving quality and safety levels, and a greater engagement with the global market will also help stabilize domestic economic growth, the Premier said.

Grasping opportunity

During a recent visit to Kazakhstan, Li saw an opportunity emerge during talks on cooperative agreements with his counterpart.

For the Kazakhs, exporting energy and agricultural products to China was seen as routine but Li envisaged a chance to enhance the process.

The premier proposed an in-depth cooperation deal in local infrastructure facilities and construction projects.

As a result, another deal of $18 billion to cooperate and boost local production capacity was sealed.

Li observed that Kazakhstan lacked sufficient production lines for cement and plate glass, and he suggested that China directly establish factories there instead of selling finished products, made in China, back to them.

“The Kazakhs expressed their readiness immediately. China’s proposal to export production capacity helps them develop a real economy and boosts their industrialization process,” Li said.

As the latest round of quantitative easing unfolds worldwide, many countries have pinned their hopes on the Chinese pattern that boosts development, Li said.

Helping enterprises

The Premier has often underlined the role of government serving domestic enterprises in global arenas.

When promoting the international reach of China’s industrial manufacturing, what the government should do is to “ease curbs for the companies in real and concrete terms”, rather than burdening them through excessive paperwork with administrative approvals, Li said.

“It is of course the enterprises themselves — rather than the regulatory bodies — that know the market best,” Li said.

Coordinated and concerted efforts by various government departments are expected to make sure the Chinese economy’s quality, efficiency are improved, Li added.