(CFP Photo)
Jiangsu provincial government has recently introduced 14 measures to promote the stability of the scale of foreign trade as well as its structure, according to a press conference by the government on June 7.
Jiangsu will support enterprises to explore the overseas market, strengthen international logistics services, expand the coverage of export credit insurance and enhance financial assistance to maintain the stability of foreign trade. Efforts will also be made to support the export of solar cell, new energy vehicles and lithium batteries, promote the digital and green transformation of trade, and optimize the structure of foreign trade.
In overseas market development, Jiangsu will provide subsidies for enterprises to cover their booth fees when participating in 115 overseas key exhibitions, implement tax policies for returned goods in cross-border e-commerce exports, and optimize the customs filing process for exporting through the model of overseas warehouse.
According to the measures, Jiangsu will enhance services to key foreign-funded enterprises, stabilize the supply chain, increase insurance support for enterprises related to large equipment, and ensure underwriting for export totaling 40 billion yuan this year. The province will also strengthen assistance for small and medium-sized enterprises, and improve export credit insurance coverage and claims conditions.
Jiangsu also plans to guarantee international logistics services. It will support the rail-sea and river-sea intermodal transport, improve the level of direct container shipping on ocean routes, and enhance the container routes with East Asia, South Asia and RCEP countries.
Additionally, the province will improve the layout of China-Europe freight train services and promote the operation of chartered trains for enterprises, commercial vehicles and cross-border e-commerce. It plans to open at least two new routes and operate 1,800 train trips throughout the year. In addition, Jiangsu will encourage Chinese and foreign airlines to resume international flights or increase frequencies with a goal that at least three new flight routes will be resumed or added.
Data shows that from January to April this year, the province's foreign trade reached 1.62 trillion yuan, down 2.1% year-on-year. However, Jiangsu further optimized its foreign trade structure as the trade by private enterprises, general trade, exports to emerging markets all bucked the trend to rise and account for a larger share. The export of solar cells, lithium batteries, new energy vehicles grew 33.9% compared to the same period in last year.
Zhou Xiaoyang, deputy director of the province's Department of Commerce, said that foreign trade will continue to play a significant role in Jiangsu's economy, and the province will go all out to promote the stability of foreign trade and enhance its structure while pursuing a high-quality growth as a frontrunner in the country.
