A few days ago, the General Office of the State Council recently issued the “Opinions on Further Stabilizing Foreign Trade and Foreign Investment” (hereinafter referred to as the “Opinions”).
The “Opinions” pointed out that the current international epidemic continues to spread, the world economy is in severe recession, and my country’s foreign trade and foreign investment are facing Complex and severe situation. It is necessary to thoroughly implement the spirit of General Secretary Xi Jinping’s important instructions on stabilizing the fundamentals of foreign trade and foreign investment, implement the decisions and arrangements of the Party Central Committee and the State Council, do a good job in the “six stability” work, implement the “six guarantees” task, and further strengthen the work of stabilizing foreign trade and foreign investment, Stabilize foreign trade entities and stabilize industrial and supply chains.
The “Opinions” proposed 15 policy measures to stabilize foreign trade and foreign investment, which specifically mentioned: increasing support for labor-intensive enterprises. For enterprises exporting labor-intensive products such as textiles, clothing, furniture, shoes, plastic products, bags, toys, stones, agricultural products, and consumer electronics products, in the implementation of tax reduction and fee reduction, export credit, export credit insurance, stable employment, We will further increase support on the basis of various inclusive policies such as electricity and water use.
The main contents of the “Opinions”
The first is to increase fiscal, taxation and financial support. Make better use of the role of export credit insurance and actively protect the risk of order cancellation before shipment. Support localities with conditions to replicate or expand the “credit insurance + guarantee” financing model. Provide credit enhancement support for foreign trade enterprise financing in various ways. Further expand export credit to small, medium and micro foreign trade enterprises. Financial support will be provided to key foreign-funded enterprises, and the special quota for re-loans and rediscounts will be equally applicable to foreign-funded enterprises. Lower the threshold for foreign-funded R&D centers to enjoy preferential policies and encourage foreign businessmen to invest in and establish R&D centers in China.
The second is to develop new trade formats and new models. A new batch of pilot market procurement trade methods will be added, striving to expand the total number to about 30, supporting cross-border e-commerce platforms, cross-border logistics development and overseas warehouse construction, etc., and increasing the credit cultivation of comprehensive foreign trade service enterprises. Expand online channels for foreign trade, promote “one country, one online exhibition”, support small and medium-sized foreign trade companies to expand markets, and help export companies connect with more overseas buyers.
The third is to improve the level of facilitation of customs clearance and personnel exchanges. Further promote the standardization and reduction of compliance costs in the import and export links, promote the “one-stop sunshine price” for port charges at ports where conditions permit, and increase consultation services on technical trade measures. On the premise of strictly implementing epidemic prevention requirements, we will continue to negotiate with relevant countries to establish “fast lanes” to facilitate personnel exchanges, increase the total number of international passenger flights in stages, and moderately increase the number of civil flights with China’s main investment sources.
The fourth is to support key industries and key enterprises. Guide the gradient transfer of processing trade and cultivate a number of processing trade industrial parks jointly built by the eastern, central, western and northeastern regions. Further increase support for enterprises exporting labor-intensive products. “One enterprise, one policy” helps large and key foreign trade enterprises solve problems. Key foreign-invested projects will be treated equally and services such as land use will be strengthened. Promote the facilitation of identification management and services for high-tech enterprises, and encourage more foreign investment to invest in high-tech industries.
The “Opinions” require that all regions should combine reality, improve supporting measures, conscientiously organize implementation, and promote the implementation of various policies in their regions. Each department must divide work according to responsibilities, strengthen collaboration, form synergy, and ensure that various policies are implemented in place.
Interpretation of the “Opinions”
These 15 measures include: Update Give full play to the role of export credit insurance and actively protect the risk of order cancellation before shipment; support qualified places to copy or expand the “credit insurance + guarantee” financing model; provide credit enhancement support for foreign trade enterprise financing in various ways; further expand Provide export credit to small, medium and micro foreign trade enterprises; provide financial support to key foreign-invested enterprises, and the special re-loan and rediscount quotas are equally applicable to foreign-invested enterprises; support cross-border e-commerce platforms, cross-border logistics development and overseas warehouse construction; increase the total number of international passenger flights in phases We will moderately increase the number of civil flights to China’s main investment sources; we will treat key foreign-invested projects equally and increase land and other service guarantees.
Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce Research Institute, believes that increasing fiscal, taxation and financial support is to empower domestic and international dual cycles. “There are many overlaps in the work of stabilizing foreign trade and foreign investment. Stabilizing foreign investment will help create a good business environment, allow foreign trade companies to better participate in the international industrial chain, and achieve positive interaction in the double cycle.” Bai Ming said.
The current international epidemic continues to spread and the world economy is in severe recession. my country’s foreign trade and foreign investment are facing a complex and severe situation. Zhang Lianqi, member of the Standing Committee of the National Committee of the Chinese People’s Political Consultative Conference and vice president of the China Taxation Society, believes that four things must be in place to stabilize foreign trade, stabilize foreign investment, stabilize foreign trade entities, and stabilize industrial and supply chains: fiscal and taxation support policies must be in place, and export credit insurance must be fully used; and new business forms must be promoted. New models must be in place, especially cross-border e-commerce logistics; the business environment including optimizing customs clearance facilitation must be in place; and focusing on key industries and key enterprises must be in place.
Opinions of the General Office of the State Council on Further Stabilizing Foreign Trade and Foreign Investment
Guo Ban Fa [2020] No. 28
The people’s governments of all provinces, autonomous regions, and municipalities directly under the Central Government, all ministries and commissions of the State Council, and all agencies directly under the State Council:
The current international epidemic continues to spread and the world economy is in serious recession.)
9. Expand online channels for foreign trade. Promote “one country, one online exhibition” and support and encourage local governments and key industry associations that have the ability and willingness to hold online exhibitions. Make good use of the special funds for foreign economic and trade development, and support small and medium-sized foreign trade enterprises to expand markets and participate in online and offline exhibitions within the prescribed scope. Give full play to the role of domestic business associations, overseas agencies, and overseas Chinese-funded enterprise associations, actively connect with foreign business associations, and help export companies connect with more overseas buyers. (Local people’s governments, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Finance, and the Ministry of Commerce are responsible according to the division of responsibilities)
10. Further improve the level of customs clearance facilitation. Continue to optimize the port business environment, continue to consolidate the results of reducing the overall customs clearance time of goods, further promote standardization and reduce compliance costs in the import and export links, promote the “one-stop sunshine price” of port charges at ports where conditions permit, and improve the transparency and comparability of port charges. sex. Increase the provision of technical trade measures consulting services to export enterprises to help enterprises explore overseas markets. Promote the expansion of market access for oils, fats, oils, meat, and dairy products, promote imports, and ensure market supply. (The General Administration of Customs is responsible)
11. Improve the convenience for foreign business personnel to come to China. On the premise of strictly implementing epidemic prevention requirements, we will continue to negotiate with relevant countries to establish “fast lanes” to facilitate the exchange of personnel urgently needed for important business, logistics, production and technical services of foreign trade and foreign-invested enterprises. Continue to fully implement the “fast track” for qualified foreigners who come to China to resume work and production. With reference to the relevant practices of the “fast track” and in line with the principle of “putting epidemic prevention first, ensuring necessity, consolidating responsibilities, and reflecting convenience”, convenient arrangements will be made for foreigners who come to China to engage in necessary economic, trade, scientific and technological activities. Support local governments to open exclusive channels based on the characteristics of local market procurement and trade methods to facilitate foreign businessmen entering the market for procurement, and prioritize foreign businessmen resident in China to return to China to enter the market as soon as possible. On the premise of epidemic prevention and control, the exchange of personnel between China and foreign countries will be gradually and orderly resumed. In accordance with the deployment of the Joint Prevention and Control Mechanism of the State Council, the total number of international passenger flights will be increased in stages. When the epidemic prevention certificates are complete, civil flights with China’s main investment sources will be moderately increased to facilitate foreign business personnel to come to China. (Local people’s governments, the Ministry of Foreign Affairs, the National Development and Reform Commission, the Ministry of Commerce, the Immigration Bureau, and the Civil Aviation Administration are responsible according to the division of responsibilities)
12. Provide financial support to key foreign-funded enterprises. Foreign-funded enterprises are equally eligible for the existing 1.5 trillion yuan special quota for re-lending and rediscounting. Increase financial support for key foreign-funded enterprises, and the Export-Import Bank of China’s 570 billion yuan in new loans can be used to actively support qualified key foreign-funded enterprises. The competent commerce departments of all provinces, autonomous regions and municipalities shall find out the financing needs and operating conditions of key foreign-funded enterprises within their jurisdictions, promptly share information on key foreign-funded enterprises with banking financial institutions, strengthen cooperation between local foreign-funded enterprise associations and other institutions and banking financial institutions, and promote the development of “banking financial institutions”. “Enterprise Docking”, banking financial institutions actively protect the financing needs of key foreign-funded enterprises in accordance with market-oriented principles. (Local people’s governments, the People’s Bank of China, the Ministry of Commerce, the China Banking and Insurance Regulatory Commission, and the Export-Import Bank of China are responsible according to the division of responsibilities)
13. Increase support services for key foreign investment projects. A list of key foreign-invested projects with an investment of more than US$100 million across the country will be sorted out. In the early stage, under construction and put into production, domestic and foreign investors will be treated equally to increase service guarantees in terms of sea use, land use, energy consumption, environmental protection and other aspects. (Local people’s governments, the Ministry of Commerce, the National Development and Reform Commission, the Ministry of Natural Resources, and the Ministry of Ecology and Environment are responsible according to the division of responsibilities)
14. Encourage more foreign investment in high-tech industries. Promote the facilitation of high-tech enterprise certification management and services, further strengthen the training and publicity and interpretation of foreign-invested enterprises applying for high-tech enterprise certification, focus on strengthening policy services for enterprises in emergency areas such as epidemic prevention and control, and attract more foreign investment in high-tech and people’s livelihood and health fields. (The Ministry of Science and Technology will take the lead, and the Ministry of Finance and the State Administration of Taxation will be responsible according to the division of responsibilities)
15. Lower the threshold for foreign-funded R&D centers to enjoy preferential policies. Reduce the number of full-time research and experimental development personnel required for foreign-funded R&D centers subject to import tax policies that support technological innovation, encourage foreign investors to invest in and establish R&D centers in China, and improve the quality of investment attraction. (The Ministry of Finance takes the lead, and the Ministry of Commerce and the State Administration of Taxation are responsible according to the division of responsibilities)
All regions and departments must follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and strengthen the “four Awareness”, strengthen the “four self-confidences”, achieve “two safeguards”, resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, improve our position, take active actions, and pay close attention to implementation. All regions must combine reality, improve supporting measures, carefully organize implementation, and promote the implementation of various policies in their regions. Each department must divide work according to responsibilities, strengthen collaboration, form synergy, and ensure that various policies are implemented in place.
General Office of the State Council
August 5, 2020
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