Opinions of State Council on ensuring stability and improving quality of foreign trade

Nov Sun 2022
In order to help foreign trade enterprises cope with difficulties and challenges, and achieve the goal of ensuring stability and improving quality of imports and exports, the following opinions are proposed with the consent of the State Council:

The production and operation of foreign trade enterprises shall be guaranteed. All localities shall establish a service guarantee system for key foreign trade enterprises to help solve their problems in a timely manner. In the provinces where the pandemic resurged, against a background of regular epidemic prevention and control, the list of key foreign trade enterprises, related logistics enterprises and staff shall be identified to ensure production, logistics and employment, and enable foreign trade enterprises affected by the pandemic to resume production and reach production capacity as soon as possible, so as to ensure the stability of the foreign trade supply chain.

Smooth transport of foreign trade goods shall be ensured. All localities shall strictly implement the spirit of the national teleconference to ensure smooth logistics and promote the stability of the industrial chain and supply chain, and adhere to relevant requirements to include foreign trade goods into the scope of important materials and ensure smooth freight logistics transportation. Foreign trade enterprises with transportation needs may apply for vehicle passes for transportation of key materials according to relevant regulations.
The reliability of collection and distribution at the seaport and airport shall be guaranteed to improve the efficiency of operations and customs clearance. All localities shall actively optimize the operation process, further reduce the waiting time of international liners, and introduce measures to improve the efficiency of international container liner berthing operations.
The security of airport customs and operators shall be strengthened to make good use of air freight transport capacity, and ensure the transport of important parts, equipment and products. The communication and coordination with the countries that the international freight trains pass shall be enhanced to improve the efficiency of customs clearance and operations at railway ports.

Marine logistics services shall be strengthened to stabilize foreign trade. All localities and business associations shall organize micro-, small- and medium-sized foreign trade enterprises to strengthen their connection with international liner companies. The listing of marine freight rate and capacity futures on the Shanghai Futures Exchange and the Dalian Commodity Exchange shall be advanced. The market supervision in the field of international maritime transport shall be strengthened in accordance with laws and regulations. Such acts as unfair competition, price violation and monopoly of relevant entities in the international shipping market shall be investigated. All localities shall coordinate logistics and freight forwarding enterprises to go to the port to pick up containers of refrigerated and dangerous goods in time, in a bid to improve the efficiency of cargo transfer at major ports.

The development of cross-border e-commerce shall be accelerated to improve its quality and efficiency. The publicity of the policy on the supervision mode of cross-border e-commerce export to overseas warehouses shall be enhanced. Efforts shall be made to guide enterprises to make full use of the current export tax rebate policy for goods sold, and timely declare and handle tax rebate. All localities shall introduce policies to facilitate the return and exchange of cross-border e-commerce exports as soon as possible, and carry out pilot projects. According to the characteristics of the cross-border e-commerce industry, policies shall be formulated to support eligible cross-border e-commerce enterprises to apply for high-tech enterprises.
The support for export credit insurance shall be increased. The coverage of short-term export credit insurance shall be expanded. Export credit insurance companies in China are encouraged to support foreign trade enterprises to further explore diversified markets on the premise of legal compliance and controllable risks. Export credit insurance institutions shall continuously deal with the underwriting and claims settlement for foreign trade enterprises.
More support shall be provided for import and export credits. Banking institutions are encouraged to meet the reasonable capital needs of foreign trade enterprises that have good prospects for development but are temporarily in trouble according to risk management and control requirements and the actual operation of enterprises.

The financial support for micro-, small- and medium-sized foreign trade enterprises shall be further provided. All localities shall strengthen the connection among the government, banks and enterprises and sort out a list of enterprises in urgent need of funds. The support of export credit insurance for micro-, small- and medium-sized foreign trade enterprises shall be increased. The insurance coverage for enterprises shall be expanded on the basis of last year. The underwriting and claim settlement conditions of enterprises shall be optimized and the claim settlement time shall be shortened. Banking institutions are encouraged to increase credit support for foreign trade enterprises in accordance with the principle of marketization. Banks and insurance institutions are encouraged to deepen the financing cooperation of export credit insurance policies and strengthen the financing support for foreign trade enterprises.

The ability of foreign trade enterprises to cope with exchange rate risks shall be raised. The RMB exchange rate shall be kept basically stable at a reasonable and balanced level. All localities shall provide foreign trade enterprises with public services like training and consultation on hedging risks of exchange rate. Banking institutions are encouraged to optimize foreign exchange products, and the service capacity of grassroots banking institutions shall be improved. The exchange rate risk hedging modules of online banks and platforms shall be optimized. Better services for hedging risks of exchange rate shall be provided for foreign trade enterprises through internal assessment and incentives.

A good RMB settlement environment for cross-border trade shall be created. The local branches of People’s Bank of China and competent authorities of commerce shall be supported to strengthen publicity and training on cross-border RMB settlement. Pilot zones shall be built to facilitate the settlement of trade and investment in RMB at a higher level. Banking institutions are inspired to strengthen product as well as service innovation and provide foreign trade enterprises with comprehensive financial services including RMB trade financing and settlement. Banks are supported to simplify the settlement process and improve the efficiency of cross-border RMB settlement through electronic document review in accordance with laws and regulations.

Enterprises shall make good use of online channels to increase trade turnover. The digital and intelligent construction of China Import and Export Commodities Fair and other exhibitions shall be stepped up and the interaction with cross-border e-commerce platforms shall be strengthened. The cloud exhibition halls and virtual exhibition stands shall be optimized by applying such technologies as virtual reality (VR), augmented reality (AR) and big data.
All localities and industry associations shall introduce new online exhibition modes to hold national exhibitions, professional exhibitions and characteristic exhibitions, and help enterprises obtain more orders via online channels. All localities actively use the special funds for foreign trade and economic development to support enterprises to participate in overseas exhibitions. Business associations, trade promotion agencies, overseas institutions and associations of overseas Chinese enterprises shall actively help exhibition organizing enterprises and exhibitors to connect with overseas buyers.

Enterprises featuring innovative, green and high value-added products shall be encouraged to develop the international market. All relevant local authorities shall support pharmaceutical enterprises to register and certify Chinese and western pharmaceutical preparations and biological products in such organizations or places as the World Health Organization and the countries or regions where members of the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) and the Pharmaceutical Inspection Cooperation Scheme (PIC/S) are located.
All localities shall further create a good policy environment, actively guide social investment and support enterprises to carry out high-quality, high-tech, high value-added green low-carbon trade. Overseas institutions of Chinese funded banks shall actively provide financial products for overseas consumers and support foreign consumers to purchase Chinese brand cars. The second-hand car export business shall be expanded in more regions with a larger number of exported second-hand cars boasting higher quality.

Import promotion platforms shall be cultivated and established. The role of import trade promotion innovation demonstration zones in advancing the development of imports, service industries and improving consumption shall be enhanced. A new batch of import trade promotion innovation demonstration zones shall be cultivated to expand the import of high-quality products.
The development of processing trade shall be kept stable. The gradient transfer and stable development of labor-intensive foreign trade industries shall be supported to ensure employment and contribute to rural revitalization and regional coordinated development. The labor-intensive processing trade related industries in Central, Western and Northeast China shall be included on the list of industries encouraged by the country. Enterprises are supported to carry out bonded maintenance in the comprehensive bonded area. Such products with high added value and low pollutant emissions as large medical equipment and intelligent robots shall be included on the list of maintenance products. The possibility of establishing pilot bonded remanufacturing zones of automobile engines and gearboxes in the comprehensive bonded area shall be explored.
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