Beijing (TDI): In a bid to support economic recovery and stabilize trade amid mounting internal and external pressures, Chinese Premier Li Qiang chaired a State Council meeting on Friday that approved a range of policies aimed at driving steady growth in foreign trade.
The meeting outlined various strategies, including increased financial support and policy loans for small and micro-sized businesses, as well as improved cross-border trade settlements to help enterprises better manage currency risks, according to Chinese media reports.
Further measures focus on strengthening cross-border e-commerce, establishing smart logistics platforms overseas, and enhancing green trade and border region activities.
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The policy also includes promoting visa-free travel negotiations with additional countries to facilitate trade.
Economists noted that these measures could help Chinese companies expand their global presence, particularly benefiting from the global rate-cut cycle.
Experts also highlighted the importance of cross-border e-commerce as a strategic area for growth.
They said that streamlining currency settlements and logistics in cross-border transactions could reduce costs and improve transparency.
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While these measures hold promise, experts emphasized the need for clear implementation, particularly in areas like tax policies, customs processes, and foreign exchange quotas, to better support foreign investors and businesses.
China’s merchandise trade totaled 36.02 trillion yuan ($5 trillion) in the first 10 months of the year, marking a 5.2% year-on-year increase, the General Administration of Customs reported on November 7.
