The guidelines suggest accelerating export tax refunds and improving export credit insurance services to better protect small trading companies from pre-shipment order cancellations.
Currently, the country’s imports and exports are facing increasing uncertainty, instability and imbalances, and the fundamentals of its trading operations remain unhealthy, the State Council said in a statement.
The State Council of the People’s Republic of China recently called for efforts to secure a domestic supply of commodities as part of guidelines for stabilizing imports and exports as an anti-circular buffer against uncertainties that cloud the trade situation. The Cabinet has announced measures to support SMEs and revised the list of retail imports via e-commerce.
Among the measures aimed at securing orders, stabilizing expectations and promoting stable trade, we have selected import categories to coordinate and secure stable commodity imports and better meet diverse consumption needs. There are efforts to expand.
International consumption promotion activities are also attracting attention in order to promote the import of consumer goods. In addition, overseas storage facilities are listed in the guidelines, and financial institutions that provide cross-border financial services are financed to allow traditional trading companies, cross-border e-commerce businesses, and logistics companies to build. Leverage overseas warehouses where increased support is encouraged.
Trading companies are expected to raise their awareness and ability to avoid forex risk. Promoting cross-border reconciliation denominated in RMB was also one of the trade promotion measures.
The December tuned Central Economic Working Council identified shrinking demand, supply shocks and weakening expectations as the major headwinds facing the economy.
According to customs, in the first 11 months of this year, the country’s imports and exports increased 22% year-on-year to 35.39 trillion yuan ($ 5.56 trillion), up from last year’s full-year figure (32.16 trillion yuan). data.
Fiber2Fashion News Desk (DS)
State Council of China announces guidelines for stabilizing trade
Source link State Council of China announces guidelines for stabilizing trade