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Li urges reforms amid falling exports
July 10, 2013, 4:06 am

China’s total foreign trade volume declined 2 percent year on year to $321.51 billion. [Xinhua]

China’s total foreign trade volume declined two per cent year on year to $321.51 billion [Xinhua]

China’s exports dropped 3.1 per cent year on year in June to $174.32 billion.

China’s General Administration of Customs released new trade figures on Wednesday.

The country’s Premier Li Keqiang has stressed on the need to accelerate reforms to propel the Chinese economy.

“It is very important to plan as a whole the need to stabilize growth, promote economic restructuring and advance reform at this stage,” Li said on Tuesday.

Li was addressing a meet on the Chinese economy in south China’s Guangxi Zhuang Autonomous Region.

China’s total foreign trade volume declined two per cent year on year to $321.51 billion.

The premier said China needs to let the market mechanism play a better role and would accordingly step up reforms in taxation, finance and pricing.

“Through stabilising growth, we can create room and conditions for restructuring, while restructuring in turn unleashes potential for economic growth. The two will receive an added impetus from reform as it will help clear obstacles”, Li said.

Li also outlined the importance of private investment in the economy.

China’s second quarter GDP figures will be released on the 15th of July.

Source: Agencies

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