Guangdong kicks off effort to spur foreign trade

The measure should help exporters reduce their costs and raise efficiency, Chen said.

The provincial government plans to identify 10 key trading centers for imported commodities, which will receive prioritized treatment in setting up bonded warehouses, to promote the link between imports and domestic distribution systems.

Top 10 trading partners of the Chinese mainland

China's top 10 richest cities

Chen sees little improvement in the demand from overseas markets and noted that the most fundamental way to support trade is to improve the business environment so that companies can increase efficiency.

He suggested that oversight be strengthened on cross-border e-commerce trade, which is a relatively new form of trade that has huge volume but is hard to regulate.

It will facilitate the exploration of European and North American markets, expand into emerging markets and boost its support to companies attending trade fairs overseas.

A general manager of Silky Steel (Foshan) Industrial Co, who identified himself as Wu, said the measure should be helpful as most of his clients have been gained through overseas trade fairs.

Wu said he also hoped the measures would help transform trade processing.

"Foshan city is a base for the stainless-steel industry but is known for offering cheap, low-end products. We make tailor-made products with relatively high technology, but some of our clients wonder how a Chinese company can set such high prices," Wu said.

Xiao Jiaxiang, chairman of Foshan Shunde Cold Magic Air-Conditioning Equipment Co, applauded the measures to boost efforts to explore key markets and encourage technological innovation, as the industry has suffered from the global economic downturn and rising costs.

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