Amid the coronavirus outbreak in the country, China's General Administration of Customs has put forward ten measures to help export-oriented enterprises resume work and stabilize trade growth.
The measures are aimed at increasing support for foreign trade companies in the country and alleviating their problems, the institution said in a statement issued on Sunday (16.02.2020).
Chinese customs will simplify the procedures for registering and filing companies, and will provide timely assistance, especially to small and medium-sized enterprises, to solve their problems related to imports and exports.
Another measure they have to implement seeks accelerate the pace of verification and release of imported equipment for production and raw materials.
Wei Jianguo, former vice minister of commerce, stated that “Nowadays, the main task for export-oriented enterprises, especially small and medium-sized ones, is to take commercial orders. Otherwise, they will face difficulties in ensuring their survival.. "
As some have few orders while others lack capital, companies must cooperate in pooling their resources to prioritize delivery of orders and share profits, he added.
In this way, they will not only be able to maintain a flow of orders, but also stabilise the market, he said, citing the experiences of the sector during the SARS epidemic in 2003.
China's General Administration of Customs said that will speed up the process of granting permits for agricultural products and food imports, will shorten the time for quarantine review and approval and allow applications that meet the requirements to be submitted and approved at the same time.
Also will support companies to further expand exports, and will use the Internet to ensure the stable and efficient operation of the information system.
In a notice issued by China's General Administration of Customs in late January, it stressed that all customs districts should open special channels to speed up clearance services for imported supplies.
Supplies for prevention
Between January 24 and February 11, according to data from the General Administration of Customs of China, the country imported 870 million supplies for prevention of the epidemic, valued at 2,84 billion yuan (407 million US dollars). Among them, most are protective products such as masks, suits and glasses.
Xu Qiyuan, director of the economic development division of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, stressed that policies to support work resumption while combating the virus must be planned in advance.
To reduce the impact of the outbreak, it is imperative in the short term to provide capital to troubled industries through targeted tax breaks and temporary financing, the academic added.
Clear rules are also needed to ensure that traffic infrastructure can operate smoothly, contributing to the eventual resumption of the free movement of people and production activities, Xu concluded.
Source: Xinhua
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