China's economic policies, currency exchange rate to remain stable

China's economic policies and currency exchange rate will continue to maintain stability and continue to provide a promising future for the country's businesses, Chen Deming, Minister of Commerce, said Sunday at the Canton Fair in Guangzhou, Guangdong Province.

Overall, China will maintain stability with its macro-economic policies, stick to its proactive fiscal policy and moderately eased monetary policy, Chen said. Meanwhile, fine tuning will be made in the structure, direction and emphasis of investment.

The yuan exchange rate will also maintain stability so that domestic manufacturers and exporters can better predict and adjust to the market, he added.

Chen said that from the number of participants and trade volume at the fair, the overall situation of China's trade is recovering, but uncertainties remain. As a result, he said, China's exporters and manufacturers still have a long way to go before experiencing complete recovery.

Chinese enterprises need to strengthen their competitiveness by upgrading technology and restructuring to lower costs and improve quality, Chen pointed out.

From the perspective of the long term development, the Commerce Minister said China should not only pay attention to the quantity of trade, but also the quality of China-made products, and the country's focus on foreign trade for next year will be the quality of export products and the structural adjustment of trade products.

He also said the recovery of China's overall trade situation is not just a positive signal for the domestic economy, but can also help push the world economy to get itself out of the recession soon.
 

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