­China issues guidelines to promote foreign trade
Updated: April 25, 2023 21:32

The General Office of the State Council issued a circular on April 25 laying out measures to improve the scale and structure of foreign trade to ensure its stable and high-quality growth.

To beef up trade and promote development of the market, governments at all levels should promote full resumption of important domestic offline expos for better supply and purchase matchmaking, and facilitate cross-border business personnel exchanges.

Efforts will be made to enhance market development services to stabilize exports to developed economies, guide enterprises to further develop markets in developing countries, ASEAN and other regional markets.

In order to stabilize and expand their import and export, work will be done to cultivate industrial advantages in automobiles and provide overseas financial support for automobile enterprises.

All local governments should further support automobile enterprises to build and enhance an international marketing service system.

Large complete equipment enterprises should level up in international cooperation. And enterprises should be guided to expand imports of advanced technological equipment in short supply at home.

For more fiscal and financial support, the circular called for efficient use of the central financial fund policy, more credit support for import and export, better use of export credit insurance and optimized cross-border settlement services.

Work must be done to stabilize, improve processing trade and enhance favorable policies for border trade.

Digitalization of trade should be promoted, with five to 10 exemplary cases of digitally boosted high-quality development to be selected every year from 2023 to 2025 in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region for popularization and application.

Green trade, management of unreasonable trade restrictions occurring abroad and better utilization of free trade agreements were also stressed.

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