On July 10, Premier Li Keqiang presided over the State Council executive meeting to determine further measures to stabilize foreign trade in order to expand openness and help stabilize growth and stabilize employment. The meeting pointed out that the key to implementing the requirements for stable foreign trade is to further expand opening up and pay more attention to market-based reforms and the use of economic means to enhance the internal motivation of enterprises. The person in charge of the Foreign Trade Department of the Ministry of Commerce interpreted the background and main contents of the policy measures.
First, the background
Since last year, the external environment of foreign trade development has undergone profound changes. In accordance with the "six stable" work arrangements of the Party Central Committee and the State Council, the Ministry of Commerce and various departments have issued a number of policies in a timely manner. Various localities have also actively introduced supporting measures to form a policy synergy, which has achieved good results in stabilizing confidence and stabilizing expectations. According to the questionnaire survey of exhibitors of the 125th Canton Fair, 77.6% of enterprises are generally satisfied with the implementation of policy measures.
The Party Central Committee and the State Council attach great importance to foreign trade work and demand further expansion of opening up to the outside world, create a better policy environment for foreign trade enterprises, expand import and export trade, promote the steady improvement of foreign trade, and enhance export competitiveness. The Ministry of Commerce attaches great importance to the nationwide survey on “stabilizing foreign trade and promoting foreign investment and promoting consumption”. The company has reflected some difficulties and demands. The market is fiercely competitive, trade frictions are increasing, comprehensive costs are rising rapidly, and financing is difficult to finance. The business environment needs further improvement. At the same time, the good practices of good foreign trade in some places have achieved good results and are worth promoting nationwide. On the basis of a large number of investigations, we will work with relevant departments and units to study and put forward proposals for further stabilization of foreign trade measures, which were reviewed and approved by the State Council executive meeting.
Second, the main content
This round of policy measures adheres to problem-oriented and precise policies, and strives to effectively solve the outstanding problems and demands reflected by foreign trade enterprises. It has not only intensively cultivated effective policies in the past, but also absorbed some local policies and good practices. The main contents include:
The first is to improve fiscal and taxation policies to help enterprises reduce burdens and increase efficiency. Continue to reduce the overall level of import tariffs and expand opening up. Increase the export tax rebate rate for some products and ensure that the average processing time for normal tax refunds at the end of 2019 is within 10 working days. Establish an early warning system and legal service mechanism. Timely revision encourages the import of technology and product catalogues, and encourages enterprises to actively expand the diversified import channels of key components and advanced technology equipment.
The second is to strengthen financial support and reduce corporate financing costs. Maintain the basic stability of the RMB exchange rate at a reasonable and balanced level and improve the convenience of RMB settlement. Encourage financial institutions to combine the actual needs of foreign trade enterprises, further expand the scale of export credit insurance policy financing, and continuously improve the quality and efficiency of foreign trade financial services. We will expand foreign trade credit and guide various financial institutions to increase foreign trade financing and insurance support for SMEs. Give full play to the role of export credit insurance, expand coverage, rationally reduce premiums, develop new models of new products, and research and propose special types of insurance that meet the needs of enterprises.
The third is to innovate policy support measures to support enterprises in developing new formats. Introduce an income tax verification method that meets the characteristics of cross-border e-commerce retail exports, and clearly not retroactive. Expand the pilot scope of the cross-border e-commerce comprehensive pilot zone in a timely manner. Improve cross-border e-commerce statistics. Coordinated consideration of the comprehensive bonded area and outside the district, speeding up the promotion of remanufacturing and global maintenance projects in compliance with the regulations, and promoting a batch of “two-out” processing trade bonded maintenance projects to be tested first outside the zone. Cultivate the third batch of import trade demonstration zones.
The fourth is to enhance trade facilitation and release the viability within the enterprise. Implement the public notice system for the port charge list to prevent the port charges from rebounding. Consolidate and compress the overall customs clearance time. Further simplify the import and export chain supervision documents.
Third, the next step
The most important task of the current foreign trade work is to do a good job in policy implementation and do a good job in stabilizing foreign trade. The Ministry of Commerce is working with localities and departments to strengthen horizontal cooperation and vertical linkage to ensure that policy measures are refined and fast, and that they are effective. At the same time, we will ask about the enterprises and ask for the local conditions, and reserve more accurate and effective policy measures and launch them in due course. The Ministry of Commerce will continue to promote a higher level of opening up to the outside world, focus on stimulating the vitality of market players, boost the confidence of foreign trade enterprises, and strive to promote the steady improvement of foreign trade.