Opinions on Further Stabilizing Foreign Trade Released by the State Council
ISSUING AUTHORITY:
The General Office of the State Council
DATE OF ISSUANCE:
January 11, 2022
On January 11, 2022, the General Office of the State Council released the Opinions on Ensuring Sound Cross-cyclical Adjustment to Further Stabilize Foreign Trade (the “Opinions”), which specified 15 policy measures with a view to easing pressures on foreign trade companies and keeping the country’s exports and imports stable.
According to the Opinions, further measures will be taken to tap import/export potential and ensure the stability and smooth flow of the foreign trade industrial chain and supply chain, as well as stabilizing market players to ensure orders. The measures will include goals such as promoting innovative development of service trade to guide funds, encouraging financial institutions to increase their support for the construction and use of overseas warehouses so as to promote the high-quality development of overseas warehouses, stressing efforts on imports of bulk commodities to ensure sufficient domestic supply, adjusting and improving the list of retail imports in cross-border e-commerce to expand import categories and better meet consumer’s diversified demands, encouraging foreign trade companies to sign long-term deals with shipping firms, setting up a number of comprehensive pilot zones for cross-border e-commerce, fostering a number of offshore trade center cities (regions), and encouraging the development of new forms of foreign trade.
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