Export firms’ domestic sales supported
China will support export companies’ sale of products in the domestic market to help them overcome difficulties created by the COVID-19 pandemic, according to a guideline issued by the General Office of the State Council.
The guideline, published on June 22, said businesses engaged in foreign trade will be encouraged to expand their sales channels and help enhance domestic consumption.
Due to the impact of the pandemic on sales, companies will be allowed to sell products originally made for export if they can meet certain technical standards before the end of the year, it said.
To help reduce their production costs and facilitate trade transformation, companies will be encouraged to make products for domestic and foreign markets on the same production lines, according to the same standards and of the same quality.
Local governments will be responsible for promoting domestic sales of export products according to local conditions and they should give priority to foreign trade businesses involved in regionally important industrial and supply chains and small and mediumsized foreign trade companies, it said. They will also be responsible for organizing export product promotions in major shopping streets and facilitating direct purchases by big commercial companies.
They should also make efforts to connect export companies with the country’s infrastructure and urbanization initiatives and major projects, the guideline said.
It said measures such as setting up export product zones during online shopping festivals and attracting domestic buyers at major trade fairs will also be taken to establish domestic sales platforms for exporters.
Financial institutions will be encouraged to step up financial assistance to exporters by improving supply chain financing services and strengthening operational credit support.
Special funds earmarked for foreign trade and economic development should also be used to provide training and promotions related to the sale of export products in the domestic market and support foreign trade companies participation in online and offline exhibitions, the guideline said.