China is seeking to establish a legalized system of barter trading to help companies reduce inventories and boost profits, said an official with the China National Excess Inventory Association.
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China has launched its first regulations for barter trading in a bid to promote its sound development, said Mao Deshu, vice-president of the association, on Saturday.
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Bartering is business by which goods or services are directly exchanged for other goods or services without using money.
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"China's barter trade is at a burgeoning stage. It is important to establish sound market order," said Mao, who participated in drafting the rule.
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Companies will gradually find that bartering is a good way to move surplus inventories, attract new customers and increase sales, the official added.Â
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China is seeking to establish a legalized system of barter trading to help companies reduce inventories and boost profits, said an official with the China National Excess Inventory Association.
