The State Council executive meeting held on the 8th pointed out that opening to the outside world is China's basic national policy, and stabilizing foreign trade and foreign investment is related to the overall situation of economy and employment, so it is necessary to further expand opening to the outside world. While implement that policy of stabilizing foreign trade and foreign investment, we will further increase support.

 Ensuring the production and circulation stability of foreign-funded enterprises is the top priority of the current work of stabilizing foreign trade and foreign investment. The meeting proposed to give full play to the functions of mechanisms such as stabilizing foreign trade and foreign investment at all levels, ensuring smooth logistics, etc., and timely coordinate and solve the difficulties of foreign-funded enterprises in resuming work and reaching production and project construction. Measures to guide local innovation and stabilize foreign trade and foreign investment.

Wang Shouwen, Vice Minister of Commerce and Deputy Representative of International Trade Negotiations, introduced at the policy briefing of the State Council held on the same day that the Ministry of Commerce will closely monitor the operation of foreign trade with all localities and relevant departments, and at the same time guide all localities to introduce some local support measures to improve the efficiency of policy implementation, so that enterprises can enjoy policy dividends to achieve steady growth and improve quality.

For enterprises with good export tax rebate credit, the tax rebate should be paid in place within 3 working days in stages, the import of high-quality products should be expanded, the efficiency of port loading and unloading and customs clearance should be accelerated, and the relevant port charges should be reduced and exempted in stages ... The meeting made a series of arrangements to increase support for promoting the stability and quality of foreign trade.

Speeding up the export tax rebate will help ease the cost and financial pressure of foreign trade enterprises. Li Xinggan, director of the Foreign Trade Department of the Ministry of Commerce, said at the briefing that the next step is to strengthen the connection between export credit insurance and export tax rebate policy, treat the export credit insurance claims obtained by enterprises as foreign exchange collection, and allow enterprises to apply for tax rebate.

The meeting also proposed to actively attract foreign investment. Create a market-oriented, legal and international business environment, and stabilize enterprise expectations. We will introduce a stronger policy to support the gradient transfer of processing trade. Expand the list of industries encouraged by foreign investment in the central and western regions.

Wang Shouwen said that the Ministry of Commerce will continue to give full play to the role of a special class for key foreign-funded projects, and a regular and normalized exchange mechanism with foreign-funded enterprises, so as to provide a better business environment for foreign-funded enterprises. We are working with relevant departments to speed up the revision of the Catalogue of Industries Encouraging Foreign Investment, and further expand the scope of encouraged industries. If foreign-funded enterprises invest, produce and operate in these industries, they will enjoy a series of benefits.

--This article is excerpted from Xinhuanet