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China issues guideline for high-quality trade development

13
Dec '19

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The Communist Party of China Central Committee and the State Council recently issued a joint directive calling for high-quality trade development. By 2022, China aims to have an optimised trade structure and a notable improvement in trade efficiency, and set up an evaluation system for high-quality trade development, according to the document.

The guideline stressed the need to speed up the development of modern services, especially production-related services, while modern services should be deeply integrated with the advanced manufacturing industry, according to information posted on the website of the economic and commercial counsellor’s office of the Chinese Embassy in South Africa.

China will gradually advance from processing and manufacturing to research and design, marketing services and brand management, generating more added value through exports, the document said.

The guideline also urged coordinating the development of trade and the environment, with strict control over the export of high-polluting and high energy consumption products.

Meanwhile, China will step up the construction of comprehensive cross-border e-commerce pilot zones, and actively participate in the formulation of rules for the global digital economy and digital trade.

China aims to make the China International Import Expo more globally influential and attractive, and expand the functions of comprehensive fairs such as the China Import and Export Fair and the China International Fair for Trade in Services.

The guideline also called for promoting the implementation of the Trade Facilitation Agreement of the World Trade Organisation in the domestic market and building a world-leading and fair business environment.

Fibre2Fashion News Desk (DS)

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