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China to promote work resumption of manufacturing, circulation industries amid epidemic

Updated: Mar 24,2020 22:06    Xinhua

BEIJING — China will ensure measures to resume work and production of the manufacturing and circulation industries amid epidemic control efforts, according to a State Council executive meeting on March 24.

The meeting, presided over by Premier Li Keqiang, also underlined efforts to further increase China's international air freight capacity in a bid to stabilize the supply chain.

The current global COVID-19 pandemic has impacted the world economy while posing severe challenges to Chinese economy, noted the meeting, requiring more targeted measures to stabilize the economy and to enhance the international competitiveness of China's logistics industry.

The meeting called for efforts to keep the industrial and supply chains stable, and to ensure the production and export of key products and firms with major influence in the global industrial chain.

New business models should be further fostered by developing online services covering retail, catering, medical inquiries and education, and supporting rural e-commerce, the meeting noted.

To further implement policies to support small-, medium- and micro-sized firms and individual businesses, China will guide financial institutions to increase the proportion of credit loans, loan renewals as well as medium-and long-term loans to them.

Large enterprises are also encouraged to make advance payments to small, medium and micro firms, both upstream and downstream, with their secured funding, said the meeting.

To secure overseas orders and boost cooperation, the country will support enterprises to hold negotiations and exhibitions online, the meeting said, and study alternative plans for the rescheduled China Import and Export Fair, also known as Canton Fair.

The country will unveil measures to bolster the international air freight capacity, as the virus-hit aviation sector has frustrated the international supply chains of domestic industries.

It will offer policy support to international freight routes amid the outbreak, and will invigorate cooperations between aviation and logistics enterprises, according to the meeting.

Among efforts to optimize the network of air cargo hubs, airports with relatively strong freight capacities should lift time limits for cargo flights during rush hours, the meeting said, while certain international hubs should provide customs clearance services all day long and improve the efficiency of security checks.

It was also noted at the meeting that a logistics information sharing platform, backed by data from aviation firms, postal and express delivery companies and freight depots, will be built.

Existing airport utilities such as cold chain and express distribution facilities should be upgraded, said the meeting.