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BRI Trade

​China steps up efforts to boost border trade development amid epidemic

March 24, 2020


Abstract : China on Monday issued a circular to strengthen financial support for border and cross-border economic cooperation zones and boost innovative development of border trade amid the COVID-19 outbreak, reported Shanghai Securities News on Tuesday.

BEIJING, March 24 (Xinhua) -- China on Monday issued a circular to strengthen financial support for border and cross-border economic cooperation zones and boost innovative development of border trade amid the COVID-19 outbreak, reported Shanghai Securities News on Tuesday.

The circular, jointly released by China's Ministry of Commerce and the Export-Import Bank of China, requires related commercial authorities and the Export-Import Bank of China to help enterprises settled in the border or cross-border economic cooperation zones solve financing problems, so as to minimize the epidemic effect and secure smooth operation of border trade industry chains and supply chains.

It clarifies to increase credit support for key areas to improve the border trade industry chain by undertaking industrial transfers and push up market diversification and development of the zones.

It also requires branches of the Export-Import Bank of China to join hands with other financial institutions like commercial banks, insurance firms and financing guarantee funds through various means to meet the financing needs of enterprises within the zones. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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Keyword: border trade economic cooperation zone

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