Aerial photo taken on Sept. 13, 2022 shows ships berthed at the container wharf of Qinzhou Port in Qinzhou, south China's Guangxi Zhuang Autonomous Region. (Xinhua/Zhang Ailin)
BEIJING, Oct. 19 (Xinhua) -- China has continued the introduction of a basket of supportive polices to achieve stable development of foreign trade and foreign investment, the implementation of which, according to experts, will further guarantee the country's foreign trade development in amount and quality, and enhance its attractiveness to foreign investment.
-- Mobilizing major provinces to stabilize national foreign trade and economy
Major foreign trade provinces are the backbone in stabilizing foreign trade and economy throughout the country, said Zhang Deyong, a researcher with the National Academy of Economic Strategy (NAES) of the Chinese Academy of Social Sciences (CASS).
These provinces' efforts in stabilizing foreign trade can not only provide strong impetus for the sustained and stable development of China's foreign trade, but also give crucial support for the stable development of the country's economy, Zhang added.
To make these provinces shoulder the backbone role in promoting foreign trade, China has made efforts at the national level. For instance, the Ministry of Commerce (MOC) on September 27 issued a circular, asking these provinces to play a better backbone role and take concrete measures to help stabilize foreign trade.
At the local level, related measures are being introduced. East China's Zhejiang Province proposes to increase relief efforts for international shipping logistics and support for credit insurance. East China's Jiangsu Province puts forward to accelerate the development of cross-border e-commerce and upgrade the level of market procurement trade. South China's Guangdong Province encourages localities to increase support for cross-border economic and trade activities such as overseas marketing, purchasing in Guangdong and overseas investment.
These polices are on the one hand, helping enterprises with cost reduction, and on the other hand, requesting governments and departments at all levels to work together to stabilize enterprises' expectations, stimulate the willingness and ability of market players to participate in international competition, and lay a solid foundation for steady progress in foreign trade, noted Zhou Mi, a researcher with the Chinese Academy of International Trade and Economic Cooperation (CAITEC).
With the effect of these policies, China's foreign trade is expected to gain stronger support in stable development and quality improvement.
According to Zhuang Rui, a professor with the Academy of China Open Economy Studies, University of International Business and Economics, the targeted measures taken by relevant departments and local governments will promote the innovative development of foreign trade in major foreign trade provinces and provide strong support for China's foreign trade in stable development and quality improvement.
-- Accelerating development of new forms and models of foreign trade
New forms and models of foreign trade like cross-border e-commerce are innovative practices for foreign trade to enter the new development stage, which will push forward the innovative development of foreign trade.
Accelerating the development of new forms and models of foreign trade is conducive to promoting high-quality trade development, which is important for building the new development pattern, said Li Shuo, deputy head of the foreign trade department with the MOC, adding that the MOC will expedite the development of new forms and models of foreign trade and give full play to the role of cross-border e-commerce.
Data from the MOC showed that China's cross-border e-commerce imports and exports registered 1.92 trillion yuan in 2021, up 18.6 percent year on year and accounting for 4.9 percent of the country's foreign trade.
"Cross-border e-commerce still showed good growth momentum in the first eight months of this year," noted Vice Commerce Minister Wang Shouwen recently.
According to Wang, the MOC plans to add a new batch of comprehensive pilot zones for cross-border e-commerce, cultivate related market players to fully tap the advantages and potential of the sector, and leverage special funds to support the construction of overseas warehouses.
Efforts are also being made at the local level to promote cross-border e-commerce development and nurture new growth points in foreign trade at a faster speed.
For instance, east China's Shandong Province unveils an action plan to guide nine comprehensive pilot areas for cross-border e-commerce in improving online comprehensive service platforms, expanding market entities, and strengthening financial support and other policy systems.
-- Strengthening efforts in stabilizing foreign investment
While continuing the introduction of supportive policies in stabilizing foreign trade, China is also enhancing efforts in stabilizing foreign investment.
The MOC on September 22 held a video and telephone conference for local members of the special working group for key foreign-funded projects, asking to give further play to the role of foreign investment service mechanisms of local working groups, strengthen efforts in stabilizing foreign investment, and push for the implementation of related policies.
Xia Qing, deputy head of the Department of Foreign Capital and Overseas Investment with the National Development and Reform Commission (NDRC), said at a press conference held on September 29 that the NDRC will work with all departments and local governments to implement related policies and measures aiming at stabilizing foreign investment.
According to Xia, policies and measures will soon be released to increase the amount, stabilize the stock and improve the quality of foreign investment with manufacturing as a focus, strengthening investment services and increasing the inflow of foreign investment in manufacturing.
In addition, Xia revealed that efforts will also be made to step up the introduction of the 2022-version catalogue of industries that encourage foreign investment. The new catalogue will further expand the scope of encouragement and guide foreign investment in key areas such as manufacturing and producer services, as well as in the central, west and northeast China.
The introduction of the new catalogue will help guide more foreign investment in advanced manufacturing, scientific and technological innovation and other fields, and encourage foreign-invested enterprises to set up high-tech research and development centers in China, noted Liang Ming, head of the Institute of International Trade with CAITEC.
Data from the MOC showed that the actual use of foreign capital in China's high-tech industries rose 33.6 percent year on year from January to August this year, with high-tech manufacturing up 43.1 percent and high-tech services up 31.0 percent.
China has kept strengthening opening-up, expanding the industries that encourage foreign investment, and quickening the implementation of major projects, and a series of policies and measures have provided broader space for foreign-invested enterprises to develop in China, making China more attractive to foreign investment, said Zhao Ping, deputy head of the Academy of China Council for the Promotion of International Trade.
(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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