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On March 6, China’s Minister of Commerce, Wang Wentao, announced a series of new policies to support foreign trade enterprises amid global uncertainties. From cross-border e-commerce to service trade, and from financial support to exhibition opportunities, the Ministry of Commerce (MOFCOM) is rolling out a comprehensive package to help businesses stabilize orders and expand markets.

Key Policy Highlights

1. Dynamic Policy Adjustments
   Wang emphasized that MOFCOM has already implemented a range of policies to stabilize foreign trade, with local governments rapidly executing these measures. New policies will be introduced as needed to ensure businesses “have orders to fulfill and paths to follow.”

2. Cross-Border E-Commerce and Service Trade as New Engines

• Cross-Border E-Commerce: MOFCOM will establish new comprehensive pilot zones for cross-border e-commerce and support the construction of overseas warehouses, enabling businesses to sell globally more efficiently.

• Service Trade: The service trade sector, especially knowledge-intensive services, will see significant growth. MOFCOM plans to implement a negative list for cross-border service trade and create more open platforms.

3. Three-Pronged Support: Financing, Exhibitions, and FTAs

• Financing: MOFCOM will expand export credit insurance coverage and guide financial institutions to increase funding support.

• Exhibitions: Events like the China International Import Expo (CIIE) and the Canton Fair will serve as key platforms for businesses to go global.

• Free Trade Agreements (FTAs): More FTAs will be signed, opening new markets for Chinese enterprises.

How These Policies Help Chinese Global Trade Players

• Policy Support: Businesses gain confidence to navigate complex international environments.

• Cross-Border E-Commerce: New channels and lower costs make it easier to sell globally.

• Service Trade: Knowledge-intensive services become a new growth driver, enhancing competitiveness.

• Financial Support: Export credit insurance and funding ease financial pressures.

• Exhibition Opportunities: More platforms and FTAs simplify market expansion.

Conclusion
MOFCOM’s initiatives provide a solid foundation for Chinese businesses to thrive in the global market, seize new opportunities, and ride the waves of international trade with confidence.