People's Governments in all provinces, autonomous regions, and municipalities under direct control of the Central Government of China, all the relevant Ministries and Commissions under the State Council, 

  With the approval of the State Council, the Ministry of Commerce is hereby issuing the "Multiple Policy Measures to Boost the Steady Growth of Foreign Trade" to all the parties concerned. The Measures aim to boost the steady growth of foreign trade, and consolidate and enhance the economic rebound and upward trend, in response to the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council. Please ensure the effective implementation of these measures.

  Ministry of Commerce
November 19, 2024

Multiple Policy Measures to Boost the Steady Growth of Foreign Trade

1. Expand the Underwriting Scale and Coverage of Export Credit Insurance. Efforts will be made to support enterprises to explore diversified markets. Relevant insurance companies are encouraged to enhance their underwriting support for enterprises like "Specialized, Sophisticated, Unique, and Innovative 'Little Giant' Enterprises" and "Hidden Champions". Moreover, the efforts should be made to expand the underwriting of the industry chain of export credit insurance.

2. Enhance Financing Support for Foreign Trade Enterprises. The Export-Import Bank of China should enhance its credit support in the domain of foreign trade, aiming to more effectively address the financing requirements of diverse foreign trade enterprises. On the condition that banking institutions meticulously validate the authenticity of trade backgrounds and ensure proper risk management, they are encouraged to continuously refine their financial services for such enterprises in the processes of credit approval, loan release, and repayment. Meanwhile, they are encouraged to enhance financing support for small, medium, and micro foreign trade enterprises with adherence to the principles of market orientation and the rule of law.

3.Streamline Cross-Border Trade Settlement. Banking institutions should be directed to optimize their overseas layout, thereby enhancing their capacity to provide service guarantees and supports as enterprises explore into international markets. The coordinating role played by macro policies should be reinforced to ensure that the RMB exchange rate remains basically stable at a rational and balanced level. Financial institutions are also encouraged to provide foreign trade enterprises with more varied products of managing exchange rate risks, and aid foreign trade enterprises to enhance their capacity to manage exchange rate risks.  

4.Promote the Growth of Cross-border E-commerce.  It should unceasingly drive forward the establishment of overseas intelligent logistics platforms. Efforts will be also made to aid regions with the requisite capabilities to construct service platforms for cross-border e-commerce in an explorative way, and provide services of aiding enterprises to access overseas legal and tax resources.

  
5. Expand the Export of Special Agricultural Products and Other Commodities. Efforts will be stepped up to expand the export of special agricultural products, increase supports for promotions, and cultivate high-quality development entities. Moreover, efforts will be made to guide and assist enterprises to actively address the unreasonable trade restrictions imposed by foreign countries, with the aim of creating a favorable external environment for export.

  
6.Promote the Import of Key Equipment, Energy and Resources and other Products. With reference to the latest edition of the "Guidance Catalogue for Industrial Restructuring", the "Catalogue of Technologies and Products Encouraged for Import" will be revised and released. Regarding such products as the raw materials of recycled copper and aluminum, the import policies will be improved to expand the import of renewable resources.

  
7. Drive the Innovative Development of Green Trade, Trade Between Border Residents, and Bonded Maintenance. The connection between third-party carbon service institutions and foreign trade enterprises will be enhanced. China will actively boost border trade and advance the on-site processing of imported goods from trading between border residents. China will plan to research and release a new batch of maintenance product catalogues for comprehensive bonded zones, and the second batch of bonded maintenance product catalogues of “raw materials and sales market in the international market” in pilot free trade zones. Meanwhile, supports will be given to implement bonded maintenance pilot projects of "raw materials and sales market in the international market" outside comprehensive bonded zones and pilot free trade zones, as well as bonded remanufacturing pilot projects of "raw materials and sales market in the international market" within comprehensive bonded zones.

  
8. Attract and Facilitate Cross-border Travel for Business Professionals. Efforts will be made to improve the public service platform for exhibition held by institutions for the promotion of international trade as well as the digital platform for serving enterprises, and to optimize exhibition information services and strengthen international communication and promotion. Efforts will be stepped up to steadily promote the signing of agreements on mutual visa exemption between the People’s Republic of China and more foreign countries. China will orderly extend to more foreign countries the policy of unilateral visa-free entry into China, add more entry points for the policy of visa-free transit, extend visa-free transit stays, issue port visas for important temporary and urgent business delegations to enter China in accordance with regulations, and support business professionals from key trading partners to enter China.

  
9. Enhance the Capacity of Ensuring Foreign Trade Shipping and Strengthen Employment Services for Foreign Trade Enterprises. Efforts will be made to enhance strategic cooperation between foreign trade enterprises and shipping enterprises. Intensified efforts will be made to cut corporate burdens and stabilize employment for foreign trade enterprises. Policies such as unemployment insurance premium refunds to stabilize employment, guaranteed loans for entrepreneurship, and interest subsidies, are implemented in accordance with regulations. The operation mode of "direct subsidy and fast handling" is vigorously promoted to cut down the operating costs of enterprises. Key foreign trade enterprises will be incorporated into the scope of accessible enterprise employment service. Ongoing efforts will be made to optimize the guidance and services of dedicated personnel from the Ministry of Human Resources and Social Security of the P.R.C.

  Local governments, related government departments and units at all levels should be guided by Xin Jinping's Thought on Socialism with Chinese Characteristics for a New Era. They should closely center around the attainment of the annual economic and social development goals and earnestly strive to promote the steady growth of foreign trade. From a long-term perspective, they should vigorously foster new growth drivers for foreign trade. All local governments need to ramp up their efforts to drive the implementation of policies. Major foreign trade provinces should shoulder greater responsibilities and play their leading and supportive roles more effectively. The Ministry of Commerce, in collaboration with related departments and units, should keep abreast of the operation of foreign trade, analyze evolving situations, enhance supervision and inspection, ensure the implementation of both existing and incremental policies in foreign trade, and assist foreign trade enterprises to get the steady flow of orders and expand markets, thereby providing robust support for the continuous economic rebound and upward trend.