Ministry of Commerce: Foreign trade policy will not be adjusted next year

On the afternoon of the 27th, the Ministry of Commerce issued the "Report on China's Foreign Trade Situation (Fall 2007)" at the Canton Fair. The report predicts that China's foreign trade will grow by about 15% in 2008, a slight slowdown from the growth rate in 2007. Regarding the crisis of trust that "Made in China" encountered overseas, the relevant personages of the Ministry of Commerce believe that from the current situation, these events have little effect on China's foreign trade exports, and there is little possibility of causing fluctuations in the future.
Foreign trade policy will not be tuned next year. The report pointed out that China's foreign trade has continued to maintain rapid growth this year. According to customs statistics, the total value of imports and exports in the first three quarters reached US$1,578.3 billion, a year-on-year increase of 23.5%.
Liu Haiquan, deputy director of the Comprehensive Department of the Ministry of Commerce, believes that considering the import and export situation in the first three quarters, China’s total import and export volume is expected to exceed US$2.1 trillion this year, of which exports will be around US$1.2 trillion and imports will be around US$950 billion. Maintain the status of the world's third largest trading nation.
For the foreign trade situation next year, the report also tentatively predicts that China's foreign trade will grow by about 15% next year, a slight slowdown from 2007, and the total import and export volume is expected to exceed US$2.4 trillion.
Since the beginning of this year, in order to promote trade balance, the state has made a series of adjustments to import and export tariffs, export tax rebates and processing trade policies, and enterprises are now most concerned about whether the country will further adjust its foreign trade policy next year. Liu Haiquan said that the government will also consider the market and the ability of enterprises to withstand, and should not adjust foreign trade policies frequently next year.
The crisis of trust has little effect on “Made in China”. For the crisis of trust that “Made in China” has experienced overseas, Li Yushi, vice president of the International Trade and Economic Cooperation Research Institute, said: “Based on the sampling of the quality of all imported products by Japan and other countries, Made in China Product qualification rates rank ahead of some countries in the US and Europe."
Li Yushi also believes that from the current situation, these incidents have little impact on China's foreign trade exports, and there is little possibility of causing fluctuations in the future. Liu Haiquan also said that after the incident, China has also taken a series of measures, such as strengthening the quality training for export enterprises, improving various quality standards, and improving the quality of product inspection.

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