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Recently, the General Office of the State Council issued the Opinions on Stabilizing the Scale and Optimizing the Structure of Foreign Trade. We have noted that MOFCOM, the PBOC and the GACC held a policy briefing on April 23 to introduce the efforts to be made to stabilize the scale and optimize the structure of foreign trade. What steps will be taken by MOFCOM to implement the Opinions?(2023-04-27)

In the current complex situation where China’s foreign trade still confronts multiple challenges, the State Council has worked vigorously to put forward the Opinions on Stabilizing the Scale and Optimizing the Structure of Foreign Trade in timely manner. Following the decisions by the CPC Central Committee and the State Council and in view of both current and longer-term needs, we will take a problem and result-oriented approach, make all-out efforts in the pursuit of a stable scale and improved structure of foreign trade by maintaining steady export, increasing import, and promoting innovation.

First, ensuring full implementation of the policies. MOFCOM will work with local governments and line ministries to further promote and explain the policies, so that these policies could bring greater benefits to foreign trade companies in an more efficient manner. In addition, we will keep a close eye on how the environment evolves and timely address companies’ pressing concerns by diving deep into the problems they may encounter. We will fully leverage the role of major trading provinces to stabilize foreign trade, and encourage local governments to introduce measures suitable for their own conditions so as to forge a policy synergy.

Second, maintaining a stable scale of export. We will improve our trade environment and smooth the channels through which companies secure orders and expand business. We will promote other countries to facilitate visa application by our business travelers, and support people from China’s foreign trade companies in using the APEC Business Travel Card to travel to other economies for supply-demand matching. We will publish trade guidelines on relevant countries, ensure stable exportation to developed economies, and guide our companies to make inroads into the markets of developing countries, ASEAN and other regions. We will also give further support to automobile companies to establish and improve their global marketing service system as part of an effort to foster automobile export strengths.

Third, actively expanding imports. We will support the import of advanced technology, important equipment and key parts and components, and promote the adjustment, optimization and upgrading of industrial mix to ensure the stable operation in all steps of bulk commodity import and increase the import supply of energy resources products and agricultural produce. We will continue to leverage the role of China International Import Expo(CIIE), China International Consumer Products Expo and the import exhibition area of Canton Fair, amplify the spillover effect of various exhibitions, step up the entry of more high-quality goods into China, and let the world share the opportunities in the Chinese market. We will open more demonstration zones for creative promotion of import trade and promote the in-depth integration of import trade with industry and consumption.

Fourth, promoting innovation and development. We will guide localities in developing "cross-border e-commerce+industrial belt" in light of local conditions and promote more featured products in entering the international market. Based on the new characteristics and trends of cross-border e-commerce, we will optimize and adjust the evaluation indicators, and guide the comprehensive pilot areas in optimizing the development environment and enhance the level of innovation through such evaluations. We will guide trade associations in formulating green and low-carbon standards for foreign trade products, and support related products to explore the international market. Thank you.