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Xinhua Credit
Economy

China moves to bail out foreign trade enterprises hit by COVID-19 outbreak

April 17, 2020


Abstract : China's Ministry of Commerce (MOC) announced Thursday that it is beefing up efforts with related authorities to help foreign trade firms get out of the dilemma caused by the COVID-19 outbreak, reported Economic Information Daily Friday.

BEIJING, April 17 (Xinhua) -- China's Ministry of Commerce (MOC) announced Thursday that it is beefing up efforts with related authorities to help foreign trade firms get out of the dilemma caused by the COVID-19 outbreak, reported Economic Information Daily Friday.

"The current international epidemic has imposed severe impacts on the world economy, leading to significant increase in uncertain and unstable factors. With both demand side and supply side overseas, processing trade has seen faster and more direct impacts from the epidemic, and facing pressure from the two sides, it has encountered unprecedented grim situation," said MOC spokesperson Gao Feng.

MOC, together with relevant departments and localities, is paying close attention to the implementation of favorable policies for enterprises issued by the State Council covering foreign trade financing, export credit insurance, export tax refund, among others, so as to reduce enterprises' burden, he added.

According to him, efforts will be made to help solve difficulties facing enterprises in employment, logistics, customs clearance, contract fulfillment, etc. by strengthening cross-departmental and cross-regional scheduling.

Besides, support will be given to them to tap into diversified new markets and seek domestic sales of processing trade products by building related online and offline platforms, so as to stabilize the industry chain and the supply chain, he noted. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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