On Thursday, China unveiled a series of measures aimed at boosting its international trade, amid a backdrop of subdued economic growth and possible renewed trade tensions with the United States.
According to the Ministry of Commerce, these nine initiatives are designed to “foster sustainable growth in foreign trade and strengthen the positive momentum of the economy.”
The initiatives, which involve all levels of government, include expanding export credit insurance, providing greater financial support to international companies, and simplifying cross-border trade payments.
They also seek to promote global e-commerce, stimulate exports of agricultural products, and facilitate the import of “essential equipment” and “energy resources.”
The ministry also seeks to foster innovation in “green trade,” facilitate international personnel exchanges, and improve maritime transport and employment guarantees for foreign companies.
The Chinese economy continues to face challenges in recovering from the COVID-19 pandemic, including a crisis in the real estate sector, declining consumption, and high youth unemployment.
The situation is complicated by the recent election of Donald Trump, whose first term was marked by a trade war with China and the implementation of tariff barriers on various Chinese products. Beijing has so far avoided commenting on the possibility of a new trade conflict with Washington.
