Title: Ministry of Commerce Announces Plans to Boost Foreign Trade in Second Half of 2021
Date: [Insert Date]
In an effort to strengthen China’s foreign trade sector, the Ministry of Commerce, in collaboration with various local departments, will focus on stabilizing orders, ensuring supply chain stability, and fostering innovation and development in the industry, according to Li Xingqian, Director of the Foreign Trade Department at the Ministry of Commerce.
Speaking at a press conference, Li Xingqian emphasized the Ministry’s commitment to problem-oriented policies and its partnership with local departments to promote foreign trade. He outlined three key focus points for the next six months that would contribute to the growth and stability of China’s economic activities.
The first focus point is to assist companies in stabilizing orders and expanding markets. This includes organizing crucial exhibitions such as the China International Import Expo, the Canton Fair, and the Service Trade Fair, which are aimed at attracting global businesses. The Ministry will support local enterprises participating in overseas exhibition marketing, while also facilitating visa processing and increasing international flights to promote international business interactions.
The second priority is to ensure the stability of industrial and supply chains. The Ministry plans to enhance the development level of processing trade and adjust the catalog of maintenance products in comprehensive bonded areas accordingly. Furthermore, they will monitor trade risks and issue early warnings to assist enterprises in responding to unreasonable trade restrictive measures. Encouraging proactive import strategies will also be a key component in maintaining a stable supply chain.
The third focus point is the deepening of innovation and development within foreign trade. The Ministry aims to support the upgrade of China’s competitive and advantageous products, in line with the country’s ongoing economic development. Cross-border e-commerce brand cultivation and standard construction will also be guided as part of this initiative. Additionally, promoting the digital development and application of trade documents will be prioritized. The Ministry plans to offer industry-specific training on new formats, green and low-carbon trade, as well as free trade agreements, to assist enterprises in strengthening their trade capacity.
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