From September 1, China will allow companies with a registered capital of no less than 1 million yuan (US$120,000) to transact foreign trade business in a move to boost the country's exports and imports, the Ministry of Commerce said.

Currently, companies aren't eligible to conduct export and import business on their own unless their registered capital exceed 5 million yuan. Companies applying for the right to conduct foreign trade are required to go through the registration procedures, the ministry said.

(China Daily August 28, 2003)