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China eyes increasing exports to emerging markets

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NANCHANG, Feb. 21 (Xinhua) -- China will start to explore emerging markets this year to reduce reliance on exports to countries that have been plagued by the European debt crisis, Deputy Minister of Commerce Zhong Shan said Tuesday.

China will strive to increase its imports to markets outside of the EU, U.S., Japan and Hong Kong, Zhong said at a foreign trade conference held in Nanchang, capital of south China's Jiangxi province.

China will prioritize 30 countries, including India and South Africa, for the expansion of exports in the coming years, Zhong said.

"We have put emphasis on countries with abundant resources and large populations, as well as those that have strategic positions or low trade volume with China," he said.

The exploration of emerging markets will create new sources for export growth, as demand from major economies has continued to sag, he said.

To achieve this goal, the government will boost funding for small- and medium-sized companies by 20 percent to help them tap into the global market, Zhong said, adding that China will keep its foreign trade policies stable this year.

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