China works to further stabilize foreign trade, investment

China has rolled out more measures to protect foreign trade entities and keep supply chains stable against the economic fallout of the unabated COVID-19 pandemic, according to a guideline issued by the State Council.

The country will step up credit support to foreign trade firms, especially micro, small and medium ones, and extend financial support to major foreign-funded companies, which are eligible for the low-cost re-lending and rediscount quota, according to the guideline.

More efforts will be made to help foreign trade firms expand clientele, as well as to improve trade facilities and services, including cross-border e-commerce platforms, cross-border logistics and overseas warehouses.

To facilitate trade flow and travel, China will add more flights with its major source countries of investment while increasing the total amount of international passenger flights in a phased manner on the condition that COVID-19 risks are prevented, said the guideline.

The guideline also urged more support to hi-tech industries, stressing the need to encourage foreign investors to invest in the sector. Enditem