Newspaper article from our research archive:
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China's Machine Tools Imports Plunge
- Article from:
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Xinhua English Newswire
- Article date:
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December 30, 1997
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Copyright informationCopyright 1997 Xinhua English Newswire. Provided by ProQuest LLC. (Hide copyright information)
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Imports of machine tools declined sharply this year, the first
time in the past three years, according to today's China Daily.
Customs figures show the imports of metal-processing machine
tools
hit 1.18 billion U.S. dollars by the end of November, down 35.4
percent from the same period last year. Machine tools exports
reached 253 million, up 12.8 percent on an annual basis.
"The cancellation of favorable tariff treatments on equipment
imported by foreign-funded ventures is one of the major reasons for
the drastic drop in imports, equal to about 648 million U.S.
dollars." Said Zheng Guowei, a member of the Science and Technology
Committee under the Ministry of Machine-Building Industry.
The ...
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