China supports exporters explore domestic market

Jul 09, 2020  |  by zhaoxh


In response to the impact of the pandemic, the State Council issued a circular on June 22, introducing measures to help exporters sell products domestically and help Chinese businesses in the foreign trade sector overcome difficulties to keep foreign trade stable.
Local governments are urged to give priority to foreign trade enterprises in the major industry chain and supply chain, as well as micro, small and medium foreign trade enterprises, the circular noted. Access to the domestic market should be accelerated for exporters, according to the circular. Enterprises are encouraged to produce products on one production line following the same standards and the same quality requirements for both foreign and domestic markets to reduce costs and achieve the transformation from export to domestic sales. The circular also called on foreign trade enterprises to cooperate with e-commerce platforms and set up foreign trade products areas for various online shopping festivals. Financial institutions are asked to provide financial support for the transformation, and strengthen supply chain financial services. Insurance companies also will strengthen support for the process and provide diversified insurance services.

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