China will help foreign trade enterprises through current challenges and maintain steady and high-quality growth of the sector to stabilize the economy, industry chains and supply chains, according to a circular released by the State Council on May 26.

The “Opinions on Promoting the Stability and Quality Improvement of Foreign Trade” proposes a total of 13 policy measures. The main contents include: First, to ensure the stability of production and circulation in the field of foreign trade. Establish a service guarantee system for key foreign trade enterprises, and strengthen production and operation guarantees for foreign trade enterprises. Effectively and orderly dredge the collection and distribution of sea and airport, further reduce the berthing time of international liner, make good use of air cargo capacity, ensure the transportation of important parts, equipment and products, improve the efficiency of customs clearance and operation at railway ports, and promote the transportation of foreign trade goods. smooth. Strengthen market supervision in the field of international shipping, and enhance the function of shipping logistics services to stabilize foreign trade. The second is to increase fiscal, taxation and financial support for foreign trade enterprises. Guide cross-border e-commerce enterprises to make full use of the current export tax rebate policy, support qualified cross-border e-commerce-related enterprises to declare high-tech enterprises, and promote cross-border e-commerce to accelerate development and improve quality and efficiency. Increase export credit insurance support for foreign trade enterprises to further develop diversified markets. Support banking institutions to meet the reasonable capital needs of enterprises, and increase credit support for import and export. For small, medium and micro foreign trade enterprises, the support of export credit insurance will be increased in terms of underwriting coverage and shortening of claims settlement time, and the financing scale of credit insurance policies will be increased to further strengthen financial support. Provide more public services such as training and consultation on exchange rate hedging, and accelerate the improvement of foreign trade enterprises’ ability to deal with exchange rate risks. The pilot program of RMB settlement facilitation for higher-level trade and investment shall be carried out in an orderly manner, and the RMB settlement environment for cross-border trade shall be continuously optimized. The third is to further help foreign trade enterprises to seize orders and expand markets. Optimize and innovate the online exhibition mode, support small, medium and micro enterprises to participate in overseas exhibitions by means of “online domestic and offline commodity exhibitions”, and promote enterprises to make good use of online channels to expand trade transactions. Support pharmaceutical enterprises to register and certify Chinese and Western medicine preparations and biological products, support foreign consumers to purchase Chinese brand cars, support more regions to develop used car export business, and encourage innovative, green, and high value-added products to develop international markets. The fourth is to stabilize the foreign trade industrial chain and supply chain. Cultivate a new batch of import trade promotion innovation demonstration zones, and strengthen the cultivation and construction of import promotion platforms. Support the gradual transfer of labor-intensive foreign trade industries in China, support enterprises to carry out “two ends outside” bonded maintenance in the comprehensive bonded zone, and support the stable development of processing trade.

The “Opinions” require that all localities and relevant departments should be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, attach great importance to stabilizing foreign trade, and increase efforts to support enterprises in securing orders. All localities should take into account the actual situation, introduce targeted supporting measures, carefully organize the implementation, and promote the implementation of various policies and measures in their regions. All relevant departments shall, according to the division of responsibilities, cooperate closely, implement them well, and ensure that various policies and measures are in place.