On 30 Dec. 2021, the State Council issued the “Opinions on Promoting the Integrated Development of Domestic and Foreign Trader” (hereinafter “the Opinions”, 于促进内外贸一体化发展的意见).
The Opinions suggests that, on the one hand, China will ensure its export capability, and on the other hand, China also wants companies to apply their strength in export commodities to the domestic market.
The Opinions sets out 15 measures in four aspects regarding the integration of domestic and foreign trade, including improving the institution and mechanism, strengthening the capabilities, accelerating the process, and improving the guarantee measures.
Here are the key takeaways:
- Promoting the coordination of laws and regulations as well as the convergence of the supervision systems, business qualification, standards and quality, inspection and quarantine, certification standards of domestic and foreign trade;
- Encouraging Chinese institutions to participate in international standardization activities and strengthen collaboration with enterprises upstream and downstream of the global industry chain in order to jointly set the international benchmark;
- Improving the quality of domestic products, for example, domestic products and export products should be produced on the same production line, to the same standard and of the same quality;
- Encouraging large Chinese trade and logistics enterprises to enter the international market and improve global service networks; and,
- Guiding foreign trade entities, cross-border e-commerce and logistics enterprises to accelerate the construction of overseas warehouses, distribution centers and other logistics infrastructures, as to improve the logistics network.
Cover Photo by Yu Gui on Unsplash
Contributors: CJO Staff Contributors Team
