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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China unveils new measures to boost trade, consumption: state media AFP - Thursday, December 25 BEIJING (AFP) - - China published a series of measures Thursday to boost exports and consumption, marking the latest attempt to tackle the worst economic outlook in a generation. A hike in tax incentives to exporters of machinery and electronic products were among measures unveiled after a meeting Wednesday of the State Council, or Cabinet, chaired by Premier Wen Jiabao, the China Daily said. Participants in the meeting also decided to expand the list of product categories where foreign investment in processing trade is permitted, according to the paper, which provided no further details. As part of the same package, the government will increase subsidies for farmers buying household appliances in a bid to tap the potential of the 800 million consumers living in the countryside, Xinhua news agency reported. Other measures include money spent on boosting retail outlets in urban and rural areas, according to Xinhua. Evidence has been piling up that China is headed for harder times as its foreign trade sector takes a direct hit from the global crisis. The nation's exports dropped 2.2 percent in November from a year earlier, the first decline in more than seven years. The Chinese economy, on the verge of officially becoming the world's third-largest, is likely to see growth slow to 7.5 percent in 2009, the worst performance since 1990, according to the World Bank. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Dollar slips against yen in Christmas tradeAFP - 23 minutes ago Vietnam inflation reaches 22.97 percent in 2008AFP - 26 minutes ago China to let yuan be used in some export dealsAP - 2 hours 13 minutes ago China unveils new measures to boost trade, consumption: state mediaAFP - Thursday, December 25 Related Articles: Business Dollar slips against yen in Christmas tradeAFP - 23 minutes ago Vietnam inflation reaches 22.97 percent in 2008AFP - 26 minutes ago Kamezaki:BOJ should eye longer-term rates if neededReuters - 34 minutes ago Turkey - Factors to Watch on Dec 25Reuters - 34 minutes ago Takeda to cancel 3.1 pct of own shares outstandingReuters - 39 minutes ago Enlarge Photo China unveils new measures to boost trade, consumption: state media Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 French investor takes life after massive losses in Madoff scandal Housing market feels more pain, bottom not yet in sight Quake zone hero pig named China's animal of the year Actress Jennifer Aniston appears naked in GQ magazine View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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