China is attempting to force companies to upgrade their technology by imposing export limits on manufactured goods and by restricting raw materials imports.
China will curb exports of cheap labor-intensive products to force manufacturers into making higher-quality goods, in a move to narrow the world’s largest trade surplus and reduce environmental damage.
The Ministry of Commerce will expand its catalogue of processed goods subject to export limits in the second half of 2007, following the July 23 move to increase a levy for exporters, the ministry’s industry director Wang Qinhua said today. [Full Text]
[Image: Factory workers labor at a machine tool company, from Bloomberg]