- China has released new guidelines aimed at improving the structure and scale of foreign trade.
- The guidelines call for the promotion of domestic offline expos to facilitate supply and purchase matchmaking, cross-border business personnel exchanges, and enhanced market development services.
- Fiscal support and digitalisation of trade are also highlighted.
The circular also called for facilitating cross-border business personnel exchanges. The guidelines aimed to enhance market development services to stabilise exports to developed economies, guide enterprises to further develop markets in developing countries, the Association of Southeast Asian Nations (ASEAN), and other regional markets.
The circular called for more fiscal and financial support, efficient use of the central financial fund policy, more credit support for import and export, better use of export credit insurance, and optimised cross-border settlement services. The guidelines also stressed the need to stabilise and improve processing trade and enhance favourable policies for border trade.
Digitalisation of trade was also highlighted in the guidelines, with five to 10 exemplary cases of digitally boosted high-quality development to be selected for popularisation and application in Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta from 2023 to 2025. The guidelines also emphasised green trade, management of unreasonable trade restrictions occurring abroad, and better utilisation of free trade agreements.
Fibre2Fashion News Desk (NB)