General

On July 25, the Jiangsu Provincial Government held a press conference to specifically interpret the "Several Measures to Promote the Stability and Quality Improvement of Foreign Trade" recently issued by Jiangsu Province.

12 steps to help companies face challenges head on

The "Several Measures" put forward 12 specific measures from four aspects: promoting the foreign trade field to ensure smooth flow, helping foreign trade enterprises to seize orders and expand the market, stabilizing the foreign trade industry chain and supply chain, and increasing fiscal, taxation and financial support. Facing the current difficulties in the development of foreign trade, the "Several Measures" proposes policies and measures to stabilize the fundamentals of foreign trade from the aspects of smoothing logistics, combining offline and online development with international markets, increasing credit guarantee credit support, and improving exchange rate risk management capabilities. At the same time, we will formulate innovative measures with a long-term perspective, increase support for new business formats and models such as cross-border e-commerce, market procurement trade, and bonded maintenance, so as to accelerate the transformation and upgrading of foreign trade and achieve high-quality development.

In terms of promoting the smooth flow of foreign trade, two measures have been introduced to fully serve and guarantee the production and operation of foreign trade and economic enterprises, and to vigorously promote the smooth flow of foreign trade logistics. For key foreign economic and trade enterprises, strengthen the "one enterprise, one policy" service, promote the resumption of work enterprises to reach full production as soon as possible, and ensure the stability of the foreign trade industry chain and supply chain. The epidemic prevention restrictions on freight vehicles from low-risk areas will be fully abolished, efforts will be made to improve the level of facilitation of customs clearance at ports in Jiangsu Province, and efforts will be made to ensure smooth freight logistics and transportation.

Help foreign trade enterprises seize orders to expand the market, support enterprises to combine offline and online to explore the international market, expand the export business of used cars, accelerate the development of cross-border e-commerce, and improve the development level of market procurement trade. Stabilize the foreign trade industry chain and supply chain, strengthen the construction of import promotion carrier platforms, and support bonded maintenance and remanufacturing businesses.

In terms of increasing fiscal, taxation and financial support, expand the coverage of policy-based export credit insurance, increase the underwriting of leading enterprises in the industrial chain and key links, and strive to achieve an annual industrial chain underwriting scale of 40 billion US dollars. For small and medium-sized enterprises that meet the national-level "specialized, specialized, and new" conditions, on the basis of the original export credit insurance rate, a periodic fee reduction of no less than 10% will be implemented. Give play to the credit enhancement role of export credit insurance in policy financing, and strive to increase the scale of policy financing credit enhancement of China Export & Credit Insurance Corporation Jiangsu Branch this year to not less than 27 billion yuan. Strive to participate in no less than 10,000 foreign exchange hedging and hedging enterprises in Jiangsu Province this year, including no less than 8,000 small, medium and micro foreign trade enterprises, and no less than 3,000 enterprises that have handled foreign exchange hedging for the first time.

The trade structure shows "four proportions increase"

Despite being affected by multiple unexpected factors, thanks to the effective implementation of a series of policy measures and the formation of a superimposed effect, the foreign trade performance of Jiangsu Province in the first half of the year was better than that of the whole country and better than expected. From January to June, the cumulative import and export of Jiangsu Province was 2,635.68 billion yuan, an increase of 10.0% year-on-year, and an increase of 0.6 percentage points higher than the national average. Among them, exports were 1,661.97 billion yuan, an increase of 12.3%; imports were 973.71 billion yuan, an increase of 6.2%. The accumulative import and export, export and import scale all hit a record high for the same period in history.

In the first half of the year, the trade structure of Jiangsu Province continued to optimize, showing the characteristics of "four proportions increased": private enterprises accounted for 38.7%, an increase of 1.8 percentage points, and the driving effect was more significant; general trade accounted for 57.2%, an increase of 0.5 percentage points , the supporting role is more prominent; exports to emerging markets accounted for 50.5%, an increase of 2 percentage points, and the market layout became more diversified; regional development was more balanced, and the proportion of central Jiangsu and northern Jiangsu increased by 0.8 percentage points.

Zhou Xiaoyang, deputy director of the Jiangsu Provincial Department of Commerce, introduced that the province has organized more than 2,000 enterprises to participate in the online spring Canton Fair, supporting enterprises to expand domestic and foreign sales channels, and supporting enterprises to combine offline and online to develop markets and obtain orders. We continued to promote the financing of "Suzhou Trade Loan", with new loans of RMB 5.19 billion and 661 new service enterprises. In the first half of the year, export credit insurance supported a total of US$56.56 billion in general trade exports, an increase of 10.2%; short-term credit insurance served 20,231 export enterprises, including 14,856 small and micro enterprises. Support small, medium and micro enterprises to export efficiently and compliantly through Changshu's "City Caitong" platform. The "Shi Caitong" platform exported US$1.41 billion in the first half of the year, a year-on-year increase of 39.8%. Establish a key enterprise system for cross-border e-commerce import and export, covering 124 key cross-border e-commerce import and export enterprises in the province.

Jiangsu Province has fully tapped the potential of waterway, railway and air transportation, and issued vehicle passes for the transportation of key materials to foreign trade enterprises, so as to ensure the smooth flow of foreign trade transportation. In the first half of the year, a total of 1,015 China-Europe (Asia) trains were operated in the province, a year-on-year increase of 45%.

Multi-parties work together to promote the stability and quality of foreign trade

In the first half of the year, Jiangsu's foreign trade achieved steady progress and improved quality amid adversity. However, enterprises are still faced with many difficulties such as insufficient orders, poor logistics, and rising comprehensive costs. In the second half of the year, how will Jiangsu Province promote the stability and improvement of foreign trade?

"In the first half of the year, the province's foreign exchange derivatives trading scale exceeded 110 billion US dollars, an increase of 48% year-on-year, and the foreign exchange hedging ratio reached 38%, an increase of 9 percentage points compared with last year. More than 7,300 enterprises managed exchange rate risks with foreign exchange derivatives, of which There are more than 6,800 small, medium and micro enterprises, and nearly 3,000 first-time foreign exchange hedging accounts." Huang Xiangqing, deputy head of the Nanjing branch of the People's Bank of China and deputy director of the Jiangsu branch of the State Administration of Foreign Exchange, said that various policies will be implemented to continuously improve financial services. The ability to serve the real economy, unswervingly escort foreign-related economic market players, and help the province's economy maintain stable operation.

Hu Kehong, chief engineer of Nanjing Customs, introduced that he will continue to promote innovation in supervision services, promote the reform of cross-border e-commerce full logistics facilitation, expand cross-border e-commerce entry and exit channels, and continue to improve the level of smart supervision; promote the implementation of automatic inspection and quarantine for market procurement trade exports The reform of the electronic account book business, supporting the export of pre-packaged food, etc.; encouraging and supporting qualified enterprises to apply for the qualification of bonded maintenance outside the zone, helping Jiangsu enterprises to continue from the traditional processing and manufacturing links of the industrial chain to professional maintenance and other high value-added Link jumps.

Zhou Xiaoyang said that, focusing on the goal of stabilizing foreign trade and improving the quality of foreign trade, we will intensify efforts to help enterprises in bailouts, make every effort to stabilize the supply chain of the foreign trade industry chain, do everything possible to stabilize the fundamentals of foreign trade, and continue to promote the high-quality development of foreign trade. Hold "2+30" online matchmaking meetings, organize and participate in 50 overseas international exhibition projects, and support enterprises to obtain more orders in various ways. High-quality implementation of free trade agreements such as RCEP, guiding enterprises to use preferential policies to expand trade with member states. Further improve the level of trade and investment liberalization and facilitation, optimize the customs clearance environment at ports, enhance international transport capacity, and strengthen international logistics service guarantees. Deepen institutional innovation on open platforms such as pilot free trade zones and development zones, better serve the development of enterprises, and stimulate the vitality and motivation of enterprises.