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            China simplifies procedures for overseas trade firms

            2020/2/19 15:35:52   source:CGTN

            Beijing said it's working on simplifying trade management procedures, in an effort to get foreign trade firms back on business, against the backdrop of the ongoing novel coronavirus epidemic.

            The Chinese government will support enterprises in foreign trade, foreign investment and e-commerce to orderly resume production and work, and push forward major projects under the Belt and Road Initiative, said the Ministry of Commerce (MOFCOM) in an online statement (in Chinese) on Tuesday.

            The MOFCOM will guide foreign-invested and foreign trade enterprises to expand production of protective supplies and encourage foreign trade enterprises to increase imports of medical supplies and agricultural products that are in short supply domestically.

            Trade circulation enterprises and e-commerce companies assigned for providing essential necessities for protection and supply will be given priority to the necessary protective materials such as masks, disinfectant, protective gloves, goggles, said the statement.

            The MOFCOM said it aims to simplify the management procedures of foreign trade and promote paperless online applications, with special focus on shortening the application process for goods essential to the coronavirus battle.

            Export firms given priority for claim settlement

            Priority has been given to the settlement of insurance claims for export enterprises affected by the coronavirus outbreak, according to the China Export and Credit Insurance Corporation.

            The company has simplified procedures and eased the claims terms for the export firms hit by the epidemic.

            While supporting exports, the company has extended the special policy of import advance payment insurance to small and micro enterprises to ensure the supply of epidemic prevention materials.

            Moreover, the company has increased its financial support and enhanced cooperation with more than 10 banks to carry out financing services of import prepayment insurance policy.

            It will provide more support for small and micro enterprises to resume work and production in an orderly fashion, said the company.

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