Govt launches measures to boost trade growth

The commission charged for customs supervision will be cancelled on Oct 1 on a long-term basis, according to a statement issued by the Ministry of Finance and the National Development and Reform Commission on Thursday.

Separately, import and export goods requiring inspection and quarantine will be exempt from inspection and quarantine fees, from Oct 1 to Dec 31, the statement said.

The cancellation of the administrative fees is expected to save traders 3.5 billion yuan ($552.27 million), the statement added.

The measures were part of a recent document released by the State Council calling for more efforts to boost trade growth, as the nation's traders struggle amid sluggish external demand and a cooling domestic economy.

The Ministry of Finance will provide extra funds to the departments affected to maintain their level of operations.