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China's import and export reaches US$623.1b
(People's Daily Online)
Updated: 2004-08-31 15:52

During the first seven months this years China has further opened to the outside world, says Ma Kai, director of the National Development and Reform Commission.

From January to July, China's gross amount of import and export reaches US$623.1 billion, an increase of 38.3 percent. The export value is US$309.1 billion, 35.5 percent higher than last year, and the import witnessed a growth of 41.3 percent to US$314 billion.

Compared with same period last year, the amount of contractual foreign capital rises by 42.7 percent and the actual utilization of foreign capital grows by 12 percent to US$33.9 billion.

The mechanism of drawback has been fully implemented. A total of 195.7 billion yuan (US$23.58 billion) has been returned to enterprises and the problem of outstanding accounts has been basically solved.

In accordance with the Closer Economic Partnership Arrangement of the Chinese mainland and Hong Kong, Macao effective as from January 1, China has exempted 273 types of Hong Kong products on tax items from tariffs, and commodity with worth of HK$400 million (US$51.28 million) has entered the Chinese mainland free from tariff.

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