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Opinions on Implementing a Proactive Strategy to Promote the Importation of Machinery and Electronic Products During the 12th Five-Year Plan Period
TIME:2012-02-22
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Since China’s reform and opening up, the importation of machinery and electronic products has played an important role in upgrading domestic industrial equipment, accelerating industrial restructuring, enhancing innovative capacities, strengthening international competitiveness and promoting national economic development. With the substantial reduction of tariffs and the phased-in elimination of non-tariff measures after China’s entry into the WTO, imports of machinery and electronic products saw a substantial increase, with an average annual growth rate of 19.2%. In 2010, China’s import of machinery and electronic products reached US$ 660.3 billion, accounting for 47.3% of the total import, and more than 10% of GDP. However, some problems still exist: the quality of imports needs to be improved; focus should be shifted more towards assimilation and re-innovation rather than simple importation; and relevant management mechanism and supporting policies need to be further developed. To grasp the strategic opportunities brought about by a world economy undergoing transformation, implement a proactive strategy to promote the importation of machinery and electronic products and push forward the adjustment of import structures will help to optimize the allocation of global resources, improve trade structures and promote the transformation of China’s economic development mode and industrial structuring, and enhance innovation capabilities. The following are several opinions on implementing a proactive strategy to promote the importation of machinery and electronic products during the 12th Five-Year Plan period.

 

. Guideline, Basic Principles and Development Goals

 

1. Guideline, Further implement the scientific outlook; carry out a proactive strategy to promote imports; fully utilize both international and domestic markets and resources; strengthen coordination between import policies and industrial policies; advance the restructuring of machinery and electronic product imports, and make better use of international advanced technologies and key equipments and components, so as to better facilitate China’s transformation from a large trading country to a strong trading power and the building of an innovative nation; and give full play to the important role of import in promoting China’s macroeconomic balance and structural adjustment.

 

2. Basic principles: First, combine market mechanism with policy guidance. Second, combine importation with assimilation and re-innovation. Third, combine import promotion with maintaining industrial security.

 

3. Development goals: Gradually increase the proportion of imports of advanced technologies and key equipments and components; bring the proportions of imports of investment goods, consumer goods and intermediate goods to reasonable levels; meet import demands of strategic emerging industries and key industries such as the new generation of information technologies, energy conservation and environmental protection, new energy, bio-industry, high-end equipment manufacturing, new materials and new-energy vehicles; and effectively slow down the over-rapid growth of trade surplus with major countries and regions.

 

. Vigorously promote the adjustment and optimization of the import structure of machinery and electronic products.

 

4. Give strong support for the development of strategic emerging industries. Guide imports of technologies and equipments in accordance with the needs of strategic emerging industries such as the new generation of information technologies, energy conservation and environmental protection, new energy and high-end equipment manufacturing, so as to facilitate the development of these industries and the implementation of relevant industrial policies.

 

5. Give more support to encouraged imports. Improve relevant import promotion polices; and strengthen support to imports of advanced technologies, key equipments and components, as well as advanced technologies and equipments whose export to China falls under export control by relevant foreign governments.

 

6. Encourage import by state-level R&D institutes. Conduct study on extending relevant taxation policies on imports that fall within the range provided and are for scientific and technological development by key national laboratories, national engineering laboratories, national engineering research centers, national engineering technology research centers and state-certified enterprise technology centers.

 

7. Make timely adjustment to the catalogue of import commodities not entitled for tax exemption. Timely adjust, in accordance with the development status of industries and plans for key industries, the Catalogue of Import Commodities for Domestic Investment Projects Not Exempt from Tax, and the Catalogue of Import Commodities for Foreign Investment Projects Not Exempt from Tax; and gradually improve the technical requirements for tax exempt goods.

 

8. Conduct research to establish financial leasing market and modern circulation market for imports of advanced technologies and equipments. Support leasing companies to purchase advanced technologies and equipments of urgent demand in domestic market and lease them to enterprises, especially SMEs, and guide the healthy development of the leasing market for advanced technologies and equipments. Establish second-hand equipment market, and conduct research to formulate policies on promoting the transfer and circulation of second-hand equipments. Support enterprises to establish overseas purchasing networks.

 

Several opinions on implementing a proactive strategy to promote imports of machinery and electronic products during the “12th Five-Year Plan” period

 

Since China’s reform and opening up, imports of machinery and electronic products has played an important role in upgrading domestic industrial equipment, accelerating industrial structure adjustment, enhancing innovative capacities, strengthen international competitiveness and promoting national economic development. With a substantial reduction of tariffs and phased elimination of non-tariff measures after China’s entry into WTO, imports of machinery and electronic products saw a substantial increase, with an average annual growth rate of 19.2%. In 2010, Import volume of China’s machinery and electronic products reached US$ 660.3 billion, accounting for 47.3% of the total import volume, and more than 10% of GDP. However, some problems still existed at present, such as some low-quality products are introduced, introduction is focused instead of absorption and innovation, and the management mechanism and supporting policies are not practicable enough. Grasping the strategic opportunities of the transformation and restructuring of world economy, and implement a proactive strategy to promote imports of machinery and electronic products helps to optimize the allocation of global resources, improving trade structure, promoting transformation of China’s economic development mode, and adjusting industrial structure, so as to enhance innovation capabilities. And the following is several opinions on implementing a proactive strategy to promote imports of machinery and electronic products during the “12th Five-Year Plan” period.

 

. Guiding Ideology, Basic Principles and Development Goals

 

1. Guiding ideology. Implement the Scientific Outlook and a proactive strategy to promote imports, fully utilize international and domestic markets and resources, strengthen coordination of import policy and industrial policy, advance restructuring of machinery and electronic products, and make better use of international advanced technologies and key equipments and components, so as to better service China’s transformation from a large trading country to a strong trading power, contributing to make China an innovative nation, and giving full play of the important role of import in promoting China’s macroeconomic balance and structure adjustment.

 

2. Basic principles: First, adhere to the combination of playing the role of market mechanism and policy guidance. Second, adhere to the combination of product introduction and innovation. Third, adhere to the combination of promoting exports and maintaining industrial safety.

 

3. Development goals: Gradually increase the proportion of imports in advanced technologies and key equipments and components, promote the proportion of imports of investing goods, consuming goods and intermediate goods to be reasonable, satisfy import demand for strategic emerging industries and key industries such as new generation of information technologies, energy conservation and environmental protection, new energy, biological and high-end equipment manufacturing, new materials and new-energy vehicles, and alleviate the rapid growth of trade surplus with major countries and regions.

 

. Vigorously promote adjustment and optimization of import structure of machinery and electronic products.

 

4. Give support for the strategic development of emerging industries. Guide imports of technologies and equipments in accordance with the requirements of policy implementation and industrial development of new generation of information technologies, energy conservation and environmental protection, new energy and high-end equipment manufacturing.

 

5. Give more support to encourage import. Improve the policy to promote import, strengthen support to imports of advanced technologies, key equipments and components, as well as advanced technologies and equipments.

 

6. Encourage import of state-level R&D institutes. Conduct research on extending taxation on import of products for scientific and technological development by key national laboratories, National Engineering Laboratory, National Engineering Research Center, National Engineering Technology Research Center and national-recognized enterprise technology centers.

 

7. Make timely adjustment for the catalogue of import commodities not entitled for tariff exemption. Timely adjust, in accordance with the industrial development and planning for key industries, the List of Import Commodities by Home Investment Projects Not to Be Exempted from Tax, and the List of Import Commodities by Foreign Investment Projects Not to Be Exempted from Tax, gradually improving technical requirements for duty-free goods.

 

8. Conduct research to establish financing and leasing market and modern circulation market for imports of advanced technologies and equipments. Support leasing companies to purchase advanced technologies and equipments of urgent demand in domestic market, and lease them to enterprises, especially SMEs, guiding healthy development of the rental market for advanced technologies and equipments. Establish second-hand equipment market, and conduct research to formulate policies on transfer and circulation of second-hand equipments, facilitating enterprises to establish overseas purchasing networks.

 

. Promote balanced development of machinery and electronic products

 

9. Vigorously promote trade facilitation of machinery and electronic products. Abolish unreasonable import-restricting measures, adjust the list of automatic license for imports of machinery and electronic products according to industrial development situation, and further enhance the customs declaration efficiency for imports of advanced technologies.

 

10. Carry out trade promotion activities for machinery and electronic products. Industrial associations and the chambers of commerce for imports and exports should organize companies to carry out trade promotion activities in order to address enterprises’ import demand, especially the demand which can improve their international competitiveness.

 

11. Speed up public service system construction. Support professional institutions to provide import policy, technology and business consulting service, facilitate social institutions to hold international exhibitions of advanced technology, vigorously introduce international advanced technology into exhibitions like China (Shenzhen) Hi-Tech Fair, and establish online exhibitions and sample exhibition halls on international advanced technologies for enterprises.

 

. Strengthen international consultations and cooperation, and urge relaxation of export control against China.

 

12. Urge western developed countries to relax export control against China. Strengthen consultations with developed countries on high-tech trade, enhance mutual understanding and trust, urge developed countries to relax export control against China on advanced technologies and equipments, and expand mutually beneficial high-tech trade. Continue to give play the role of mechanism of strategic cooperation in high technology with the US, Japan and the EU, and implement the existing cooperation agreements and consensus.

 

13. Perfect bilateral trade and economic cooperation mechanism in hi-tech field. Establish a platform for bilateral economic and trade cooperation in high-tech field, and build cooperation mechanism in high-tech cooperation with 20 countries including the United States, Japan, Finland and Israel, encourage matchmaking for businesses and projects, and jointly carry out cooperation in R&D and innovation, so as to enhance the capability of market exploration.

 

14. Reinforce IPR protection. Encourage industrial associations to establish self-discipline mechanism for IPR protection. Establish and improve overseas IPR dispute settlement mechanism, guide enterprises to comply with and use intellectual property legal system, and crack down on illegal manufacturing and distribution of fake and shoddy goods.

 

. Promote secondary innovation.

 

15. Step up support to secondary innovation of imported technologies and equipments. Implement secondary innovation of imported technologies and equipments on the List of Technologies and Products Encouraged for Imports. Well-recognized significant innovation achievements will be supported by the nation.

 

16. Strengthen combination of technology and trade, and introduce key technologies. Continue to support secondary innovation for state-level key industrial zones including science and technology innovation bases for rejuvenating trade as well as high-tech industrial bases.

 

17. Promote secondary innovation based on important and large-scale projects. Focus on secondary innovation of industries which plays a key role in making breakthroughs, such as clean energy, advanced numerically controlled machine tools, ships, railway locomotives, automobiles, aviation and telecommunications.

 

18. Encourage importers of advanced technologies and equipments, as well as equipment manufacturers to join efforts in secondary innovation. Construction enterprises of national key projects shall jointly make plans with domestic equipment manufacturers on secondary innovation. Manufacturers and users are encouraged to establish joint venture technology companies to carry out secondary innovation.

 

. Strengthen financial and fiscal support to imports and secondary innovation.

 

19. Intensify financial support to import. Financial institutions should, on condition of risk prevention, give credit support for enterprises, especially SMEs, for imports of advance technologies and key equipment and components. Give full play to the role of policy import credit, and encourage companies to introduce advanced technologies, key equipments and components.

 

20. Intensify fiscal support to secondary innovation. The actual cost of secondary innovation, if meets the requirements of tax law on R&D expenses, will enjoy additional deduction preferential policies according to the law. More efforts will be made to study and formulate policies to support enterprises in secondary innovation.

 

. Strengthen coordination, and perfect the management system and coordination mechanism for imports of machinery and electronic products

 

21. Establish import coordination management mechanism. Establish and improve coordination mechanism for imports of important technical equipments, strengthen planning, macro guiding, organization and coordination for China’s introduction of advanced technologies and key equipments and components and parts, so as to enhance the quality of imports, and perfect the mechanism for secondary innovation.

 

22. Perfect coordination mechanism of industrial organizations. Give full play to the role of chambers of commerce and import and export associations in expanding imports of advanced technologies and key equipments and components, as well as the role of domestic industrial associations in pre-warning and consumer rights protection.

 

23. Perfect liaison system between key industries. Organize an industrial professional team, and establish an expert consultation system. Conduct research on policy measures from the angle of imports in order to enhance industrial development, promote synergy between import and industrial policies, and facilitate innovation and industrial structure optimization and upgrading for enterprises.

 

24. Encourage the establishment of cooperation mechanism between financial institutions and enterprises. Give full play to the role of financial institutions in implementing the proactive import strategy, encourage equipment manufacturers and financial institutions to build cooperation mechanism, and facilitate imports of technologies and equipments and secondary innovation.

 

 

 

Ministry of Commerce

National Development and Reform Commission

Ministry of Finance

People's Bank of China

General Administration of Customs

State Administration of Taxation

General Administration of Quality SupervisionInspection and Quarantine

State Administration of Foreign Exchange

March 4, 2011