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New policies foster growth of foreign trade

The central government has unveiled a new package of measures to spur the growth of foreign trade, including steps to support exporters' use of new technologies and channels to explore the international market and enhance the competitiveness of small and medium-sized enterprises.

The measures were laid out in a guideline issued by the General Office of the State Council, China's Cabinet, on Nov 9 in a bid to promote the high quality and innovative development of the foreign trade sector.

Key policies include offering businesses support in the utilization of technologies such as fifth-generation communication technology, virtual reality and big data to exhibit their products and conduct business consultations online, and fostering businesses with global competitiveness in the telecommunications, power grid, engineering machinery and railway sectors.

In boosting the competitiveness of small and medium-sized enterprises, the government will launch an initiative to help the growth of SMEs and encourage them to explore the international market in clusters.

The Cabinet pledged to guarantee the stability of global supply chains by ensuring exports of key businesses and products with major implications in global industrial chains.

More support will be extended to China's equipment manufacturers, including those from the power grid, railway, telecommunications equipment and aerospace sectors, to explore the global market, it said, adding that it will seek to bolster the competitiveness of the biological technology, energy-saving and environmental protection, new energy and robotics sectors.

Editor:Lotus

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