A visitor takes photos at the Trade in Services exhibition area during the third China International Import Expo (CIIE) in Shanghai, east China, Nov. 5, 2020. (Xinhua/Zhang Haofu)
BEIJING, Nov. 6 (Xinhua) -- East China's Shanghai on Thursday issued a guideline on promoting high-quality trade development.
By 2022, Shanghai aims to have optimized trade structure, notably improved trade efficiency, and build world-leading trade environment, according to the document.
To achieve the objectives, Shanghai will synergize trade development and industrial upgrading, with focus on integrated circuit, artificial intelligence, and biomedicine. It will fatten up strategic emerging industries such as new energy vehicles, intelligent manufacturing equipment, high-end medical devices, ships and marine engineering equipment as major sectors for export, while accelerate the transformation and upgrading of automobiles, iron and steel, and chemicals to enhance its export advantages.
Priorities will also be given to increasing financial support for trade development. The city will support financial institutions to provide cross-border RMB trade finance and refinance services for foreign trade enterprises.
As the guideline told, Shanghai will build international sport commodity trading platforms for metal, energy, chemical, ore and other sectors and push forward the use of RMB in pricing and settlement of commodity trading.
The city will deepen trade cooperation with countries and regions involving in the Belt and Road Initiative (BRI), with intention to expand exports of mechanical and electrical products and high-tech products, and scale up imports of high-quality agricultural products, manufactured goods and services, according to the guideline.
Shanghai's foreign trade reached 2.53 trillion yuan in the first three quarters, showing an annual increase of 1.7 percent. Its exports during the period grew one percent year on year to 1.01 trillion yuan, while its imports gained 2.1 percent to 1.52 trillion yuan, according to data from Shanghai Customs. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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