Shanghai city in East China recently issued a series of policy measures, which are designed to further stabilize its foreign trade.

The measures seek to increase import and export channels, explore diverse markets and optimize the business environment, among other things.

In terms of reducing the burdens on its import and export enterprises, plans are for the city to further reduce their operating costs and business risks by giving full play to the advantages of its attractive financial, fiscal and taxation policies.

In order to augment imports and exports, the city will further unblock foreign trading channels by fully leveraging its advantages as an international transportation hub – and it will further embrace the role of new trading formats, such as e-commerce.

By promoting innovation in its trading system, Shanghai is expected to support enterprises to improve their resource allocation capacity and extend their global industry supply chains in order to diversify and further expand into international markets.  

In addition, the city plans to further optimize its business environment for cross-border trade. It will do so by improving public services in the field of foreign trade, improving the facilitation of trade and by standardizing markets.