ISSUING AUTHORITY:

Ministry of Commerce

DATE OF ISSUANCE:

March 16, 2023

On March 16, 2023, the Ministry of Commerce (MOFCOM) released a circular containing 15 measures (“Circular”) regarding promoting high-quality development in border and cross-border economic cooperation zones, with other 16 government departments, which include the National Development and Reform Commission and the Ministry of Foreign Affairs.

The Circular pointed out that border and cross-border economic cooperation zones are crucial platforms for China to deepen cooperation with neighboring countries and regions, and to promote high-quality joint construction of the Belt and Road Initiative. The zones also benefit the social and economic development of border areas.

The 15 measures include supporting the construction of such bonded supervision areas and nurturing such advanced manufacturing industries as the equipment manufacturing industry. Following these favorable policies, MOFCOM will adopt a series of measures to spur border trade, including enabling cross-border RMB loan business and simplifying export commodity declarations, as well as building border trade commodity markets and business centers.

Reference:

商务部等17部门《关于服务构建新发展格局 推动边（跨）境经济合作区高质量发展若干措施的通知》