China’s Ministry of Commerce mulling new measures to boost export

Trade & Policy

China’s Ministry of Commerce mulling new measures to boost export

China’s Ministry of Commerce is mulling new measures to support local companies to expand trade in overseas markets. The new measures include establishment of warehouses for goods export and operation centers in overseas markets to further optimize cross-border e-commerce businesses according to a China Daily (www.chinadaily.com.cn) report.

Vice Commerce Minister Qian Keming said new measures, such as cross-border e-commerce, logistics services and government procurement will help private companies diversify their global sales channels and enhance their profitability. The Chinese Government will also support high-end manufacturing industries, including railway and offshore engineering equipments, construction machinery, telecommunication, aviation and shipbuilding businesses, to build after-sales and training centers in overseas markets to improve their brand influence.

"More efforts will be taken to improve foreign trade environment, promote nationwide integrated cargo-clearance system and strengthen international cooperation on production capacity," Qian said.

Zhang Ji, assistant minister of the Ministry of Commerce, said China's four free trade zones along the country's developed east coast, including Shanghai and Guangdong, are also spearheading structural reforms to make it easier to start businesses and grant foreign firms more access to the service sector.

Official data show that lesser controls on capital and wider access to sectors that remain closed or restricted for foreign firms in other areas have led to a surge in new business registrations and cross-border transactions in these free trade zones between January and March of this year.