China to Boost Service Trade

A medium- and long-term blueprint about China's service trade has been submitted to the State Council for approval and is hopeful to be issued at the end of 2009, according to Wang Chao, the country's assistant minister of commerce.

Inked by 34 governmental departments, the layout includes supportive policies for more than 30 sectors, such as transportation, tourism, culture, and insurance.

In detail, China is set to issue the catalogs about key culture export companies and projects, boost the establishment of software export bases and international expansion of animated cartoon markers, as well as support the trial run and export of medicine services.

To enhance the layout's enforcement, the Ministry of Commerce of China (MOC) is to issue detailed guidelines, which say that the government will make fiscal and taxation policies in favor of service trade and research the establishment of service trade funds, said insiders, adding that financial institutions will also be required to enlarge backing to service traders.

In addition, the MOC has agreed with the Hong Kong Trade Development Council to boost the joint expansion of Mainland China and Hong Kong in the global construction market.