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China to enhance domestic sales of export enterprises

Date: 2020-06-28
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China to enhance domestic sales of export enterprises

BEIJING -- China will support export firms selling products in the domestic market by easing market access, expanding sales channels, and strengthening financial assistance to help them through difficulties and stabilize foreign trade.

This year, the country will offer domestic market access to products originally made for export only if they meet certain technical standards. The government will also simplify the procedures for compulsory certification of the relevant products, according to a guideline released by the State Council.

Firms will be encouraged to make products for export and domestic sales on the same production line, to the same standards and of the same quality, to reduce production costs and facilitate trade transformation.

Domestic sales platforms will be established for the firms by setting up export product zones at online shopping festivals, and organizing promotions at major shopping streets. Facilitating direct purchases by big commercial firms in the country, and attracting domestic buyers at major trade fairs are additional measures that will be taken, said the guideline.

Efforts will be made to connect export firms with the country's new infrastructure and new urbanization initiatives, as well as major projects. This will assist companies in enhancing collaborative innovations in the industrial chain, adjust industrial structure, and accelerate technological upgrades.

The guideline emphasized measures to help firms develop marketable domestic products, create their own brands, make full use of new business modes, and embrace the integration of online and offline development to meet the demand of consumption upgrades in the country.

To step up financial assistance to export firms, financial institutions are encouraged to improve supply chain financing services and strengthen operational credit support for the firms.


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