China releases measures to keep foreign trade stable
China on Tuesday unveiled new guidelines to ease pressure on foreign trade firms and keep the country's exports and imports stable.
China will further open up the economy and carry out cross-cyclical adjustments to support medium-, small- and micro-sized foreign trade companies, and guarantee their orders and stabilize expectations, according to the guidelines on further stabilizing foreign trade released by the State Council.
The guidelines detailed 15 measures, including fiscal and financial support for foreign trade firms as well as incentives for new forms of businesses in foreign trade.
According to the document, the yuan exchange rate will be kept stable at a reasonable and balanced level, and the country will help foreign trade companies hedge against foreign exchange risks.
China will also adopt steps to ease the supply chain risks for foreign trade firms.