Agency launched to help traders

A city-level association was established in Shanghai yesterday to integrate services for traders and enhance efforts to help struggling exporters amid a harsh global trading environment.

Also, the Shanghai Chamber of Commerce for Import and Export, a non-profit organization, was launched to accelerate the city's pace toward becoming a global trade center.

The chamber will integrate functions of three former local associations related to trade, and will provide more efficient services such as policy analysis, information disclosure, trade promotion and consultation for trade dispute settlement.

"We will serve as a bridge to connect traders with the government, and link domestic traders with their overseas counterparts," said Tang Fuqing, chairman of the chamber who was elected yesterday.

Shanghai aims to be global trade hub by 2020, but its exports have been hit on weak external demand. Shanghai's exports dropped 14.7 percent year on year in October, extending the losing steam for 11 months in a row.

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