New foreign trade and investment policies

China has released a batch of 15 policies and measures designed to stabilize foreign trade and foreign investment.

On Thursday, the State Council held a conference to explain the details of the "Opinions on further improving the work of stabilizing foreign trade and foreign capital" issued late on Wednesday.

The opinions reiterated the country's determination to push forward opening up, and emphasized the importance of legality and compliance, fairness and transparency, as well as equal treatment for domestic and foreign investors.

The measures covers aspects including increasing fiscal, tax and financial support, developing new modes of trade, improving the facilitation of customs clearance and personnel exchanges, and supporting key industries and key enterprises.

For instance, China will offer credit enhancement support for foreign trade enterprises in various ways, such as further expanding the supply of export credit to small, medium-sized and micro foreign trade enterprises. 

Also, financial support will be given to key foreign companeis, and the special amount of reloan and rediscount shall be equally applicable to foreign-funded enterprises. 

The threshold will be lowered for foreign-funded research and development centers to enjoy preferential policies, aiming to encourage more foreign investors to set up R&D centers in China.

In terms of customs clearance and personnel exchanges across the border, the country pledged to further promote standardization at customs and cut the cost of compliance for imports and exports.

On the premise of strictly implementing the requirements of epidemic prevention, China will continue to discuss with relevant countries about the establishment of fast passes which can facilitate personnel exchanges, and will also increase the total number of international passenger flights by stages.

The opinions also highlighted the development of new forms and new modes of trade, saying the country will further support the development of cross-border e-commerce platforms and cross-border logistics, as well as the construction of overseas warehouses.