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A: With the deepening of China's structural reform of foreign economy and trade,
Tibet Autonomous Region has gradually established a foreign trade operational
mechanism that conform to eign trade operational mechanism that conforms to international
norms. In 1994 Tibet launched a unitary floating exchange rate system based on
supply and demand of the market. Under this system, foreign currency-earning enterprises
can deal directly from the bank in settlement of foreign exchange transactions.
Reform has commenced among state-owned foreign trade and economic enterprises
according to the requirements of modern enterprise system. State-owned enterprises
are turned from state plan executors to dealers of import and export commodities.
Foreign trade licenses are granted to eligible enterprises in the production and
circulation sectors, and a batch of comprehensive trading companies have been
established. |