[Commentary] On May 18, the State Council Office held a press conference to introduce the relevant situation of stabilizing the basic foreign trade foreign capital and promoting high-quality business development. At the meeting, Minister of Commerce Zhong Shan said that the spread of the New Coronary Pneumonia epidemic worldwide has led to a significant drop in international market demand, and China ’s foreign trade is facing unprecedented challenges.

　　[Same period] Minister of Commerce Zhong Shan

　　China's (China) foreign trade does face unprecedented challenges this year (2020). Affected by the epidemic, our enterprises are very difficult. For example, funds are tight and orders are falling. For example, the risk of the industrial chain and supply chain is rising. From the beginning, these foreign trade companies have no orders because the logistics are not smooth. After a period of time (time) with production capacity, but no orders, it has caused great difficulties for these companies.

　　[Explanation] Zhong Shan said that in the face of this situation, the government has issued a series of policy measures in fiscal taxation, financial insurance, etc., and supports enterprises to export to domestic sales to help enterprises overcome difficulties.

　　[Same period] Minister of Commerce Zhong Shan

　　Looking at the recent situation, some policy measures have come into play. For example, the speed of export tax rebates has accelerated. It used to be more than ten days, but it is now (shortened to) one week (about), which is conducive to corporate capital turnover. The second is to expand the scale of corporate credit to help companies solve the problem of funding difficulties. There is also expanded credit insurance coverage, and now China Credit Insurance has provided assistance to 110,000 enterprises. Most of the foreign trade enterprises used to export only. Now, after the export is blocked, the government helps them export to domestic sales. This work is now seeing results. In April, export-to-domestic sales (export enterprises' domestic sales) increased by 17%.

　　[Explanation] Zhong Shan said that the decline in demand in the international market does not mean that there is no demand. While consolidating traditional markets, we should explore emerging markets and cultivate new momentum for foreign trade.

　　[Same period] Minister of Commerce Zhong Shan

　　For example, in the first 4 months, China's (China) total imports and exports fell by 4.9%, but the trade along the “Belt and Road” countries rose against the trend, and its share also increased significantly. There is also ASEAN, which has now become China's (China) largest trading partner. Over the past few years, cross-border e-commerce and market procurement trade methods have developed rapidly. This year (2020), we will speed up the promotion of pilot projects, especially cross-border e-commerce (comprehensive test area). There are originally 59 cities in this year (2020 (Year) has been expanded to 105 cities. We must support the development of these new formats, cultivate new momentum for foreign trade, and make these new models and new formats a new bright spot.

　　[Commentary] At the meeting, a reporter asked questions about the preparations for the third China International Import Expo. In response, Wang Bingnan, deputy minister of the Ministry of Commerce, said that all the preparatory work is proceeding in an orderly manner and is progressing smoothly.

　　[Same period] Vice Minister of Commerce Wang Bingnan

　　Regarding the 3rd Import Expo, we will be held in Shanghai, China from November 5 to 10 this year (2020). The overall framework is roughly the same as the previous two sessions, including the National Comprehensive Exhibition, Enterprise Commercial Exhibition, Hongqiao International Economy The three major sections of the forum. According to the new development and new demands of the global economy, this year (2020) we have also set up a public health and epidemic prevention exhibition area, an energy conservation and environmental protection area and a smart travel area. At present, more than 30 Fortune 500 and leading companies in the public health field have signed up for the exhibition, and the exhibition area has exceeded 5,000 square meters. Relevant national comprehensive exhibitions, the Hongqiao International Economic Forum and urban security and other key work can be said to be steadily advancing according to plan.

　　Cheng Yu Beijing Report

Editor in charge: [Lu Yan]