The Ministry is the executive body of the State Council of China. It is responsible for developing policies on the issues of foreign trade, export and import regulation, foreign direct investment, consumer rights protection, market competition, and concluding bilateral and multilateral trade agreements.
Responsibility of the PRC Ministry of Commerce also includes promoting closer partnership between the economies of special administrative districts: Hong Kong and Macao, as well as with the economies of the rest of China.
It was founded in 2003, and the functions of the State Committee for Economic Affairs and Trade and the Ministry for Foreign Trade and Foreign Economic Cooperation were transferred to it.
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