China unveiled new measures this Thursday to boost its trade, in a context of moribund growth and with the prospect of a resumption of trade hostilities with the United States.
Published by the Ministry of Commerce, these nine measures aim to “promote stable growth in foreign trade and consolidate and strengthen the upward momentum of the economy.”
The measures, implemented at all levels of government, include expanding export credit insurance, strengthening financial support for foreign companies and simplifying cross-border trade regulations.
Green business
Other measures aim to stimulate the development of international e-commerce, encourage exports of agricultural products or even further support imports of “key equipment” or even “energy resources.”
The ministry also wants to develop innovation in “green trade”, strengthen personnel exchanges with foreign countries and calls for better guarantees in terms of maritime transport and employment for foreign companies.
China’s economy has struggled to recover since the end of the pandemic and faces a crisis in its real estate sector, sluggish consumption and a high unemployment rate among young people.
The horizon darkened even further with the election of Donald Trump, whose first term was marked by a brutal trade war with Beijing and the establishment of tariff barriers on many Chinese products.
China has so far declined to comment on the prospects for a new trade showdown with Washington.
President Xi Jinping told outgoing US President Joe Biden last week that Beijing would “strive to ensure a smooth transition” and was willing to work with the Trump administration.
Source: BFM TV
