National Standing Committee: determine cross cycle adjustment measures to promote the stable development of foreign trade

2021-12-24

The executive meeting of the State Council held a few days ago decided on cross cycle adjustment measures to promote the stable development of foreign trade; We will make arrangements for the implementation of the regional comprehensive economic partnership agreement after it enters into force. The meeting pointed out that China's import and export grew rapidly this year, making an important contribution to stabilizing economic growth. However, at present, foreign trade is facing uncertainty, instability and unbalanced factors. We should implement the deployment of the CPC Central Committee and the State Council, further expand opening-up in accordance with the requirements of the central economic work conference, launch response measures to difficulties and challenges, make cross cycle adjustment, help enterprises to relieve difficulties, especially support small, medium and micro enterprises, strive to maintain orders and stabilize expectations, and promote the stable development of foreign trade. First, strengthen policy support for import and export. Implement tax reduction and fee reduction measures. Speed up the progress of export tax rebate and reduce the average time of tax rebate to less than 6 working days. Guide banks to innovate insurance policy financing and other products in combination with the needs of foreign trade enterprises. Keep the RMB exchange rate basically stable, encourage banks to carry out targeted forward foreign exchange settlement and sales business, and improve the ability of foreign trade enterprises to deal with exchange rate risks. Optimize export credit insurance and claim settlement conditions, and strengthen the protection of small, medium-sized and micro foreign trade enterprises and the risk of cancellation of orders before shipment. We will deepen cooperation and joint construction between the East, the central and western regions and the northeast, and support the gradient transfer and undertaking of processing trade. Do a good job in the import of bulk commodities. Second, further encourage the development of new foreign trade formats such as cross-border e-commerce. Add a comprehensive cross-border e-commerce pilot zone. Cultivate a number of offshore trade center cities (regions). Increase support for the construction and use of overseas warehouses in a market-oriented manner. Optimize the import list of cross-border e-commerce retail commodities and expand import categories. Third, strengthen supporting services for enterprises and promote the solution of problems encountered by enterprises in developing products of the same line, the same standard and the same quality in domestic and foreign trade, expanding trade channels and improving the supply chain. Domestic sales of processing trade enterprises will be temporarily exempted in 2022 Levy deferred tax interest. Fourth, ease the pressure of international logistics. Encourage foreign trade enterprises and shipping enterprises to sign long-term agreements. Crack down on illegal charges and bid up freight rates according to law and regulations. Support financial institutions to provide logistics inclusive financial support to qualified small and micro foreign trade enterprises. Fifth, support local governments to establish and improve systems in combination with actual conditions, actively carry out trade adjustment assistance, and help stabilize the industrial chain and supply chain. The meeting pointed out that through the joint efforts of relevant international and domestic parties, the regional comprehensive economic partnership agreement will officially enter into force on January 1, 2022. We should support enterprises to seize the opportunity of the implementation of the agreement, enhance their competitiveness in the international market, further improve the development level of trade and investment, and force domestic industrial upgrading. Gao Ruidong, managing director and chief macroeconomist of Everbright Securities, told the economic information daily that since the epidemic, benefiting from China's excellent epidemic prevention and control ability, China's industrial chain has taken the lead in realizing the resumption of work and production, filled the gap in overseas supply chain, supported the export growth to continue to exceed expectations, and also played an important role in driving the recovery of economy after the epidemic. At this stage, the development of overseas epidemic is still uncertain, the macro stimulus policies in Europe and the United States are constantly withdrawing, and China's future export prospects are facing great uncertainty. "The national standing committee emphasizes stabilizing foreign trade in many aspects, helping enterprises to bail out, especially supporting small, medium-sized and micro enterprises, striving to maintain orders, stabilize expectations, and further expand the level of opening to the outside world, which will help stabilize the growth rate of foreign trade, thus stabilize the total demand, and provide a stable environment for the transformation and upgrading of domestic industrial chain supply chain." "To cope with the impact of external uncertainties such as the epidemic situation and effectively stabilize the expectation of economic development, we need to formulate more active policies to stabilize foreign trade, exports and orders, solve various blocking points faced by foreign trade enterprises, including further reducing the operating costs of foreign trade enterprises through measures such as tax reduction and fee reduction, take measures to stabilize foreign exchange fluctuations and enhance the ability of enterprises to deal with foreign exchange risks, and unblock the country at the same time International logistics channels are blocked, and various measures such as connection between supply and demand are taken to help foreign trade enterprises reduce logistics costs. At the same time, cross-border e-commerce and other channels are actively used to expand market channels, so as to effectively promote the high-quality development of China's foreign trade. " Liu Xiangdong, Vice Minister of Economic Research Department of China Center for international economic exchanges, believes that taking advantage of the opportunity of the entry into force of RCEP (regional comprehensive economic partnership agreement) can help enterprises find more market opportunities, make good use of the rules of trade agreements, increase the training and introduction of rules, and improve the ability of foreign trade enterprises to use rules. (outlook new era)

Edit:Ming Wu    Responsible editor:Haoxuan Qi

Source:jjckb.cn

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