China plans integrated development of domestic, foreign trade

25 Jan '22

2 min read

Pic: Shutterstock

China recently announced measures to advance the integrated development of domestic and foreign trade to help bolster the home market, with domestic and international circulations progressing smoothly, according to a circular issued by the General Office of the State Council. The circular also urged launching pilot programmes in this field.

To support trade integration, the circular stressed improving laws, regulations and supervisory rules, and further aligning domestic trading rules and standards with global ones, involving intellectual property rights protection, customs clearance, and product certification, among other aspects, official Chinese media reported.

The circular said efforts should be made to help companies, such as cross-border supply chain service providers, navigate operations in markets at home and abroad.

Promoting integrated trade requires nurturing new business modes, such as digital development backed by modern information technology. Nurturing of professionals with necessary skills will also be strengthened, according to an official news agency.

The document said free trade ports and pilot free trade zones can act as pioneers in integrating domestic and foreign trade in line with international economic and trade rules,.

More platforms will be built to serve integrated development of domestic and foreign trade, such as commodity markets that connect with overseas marketing networks. Logistics networks will be enhanced to facilitate transportation and delivery.

Fibre2Fashion News Desk (DS)

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