Fujian Province issues 15 measures to stabilize foreign trade in the second half of 2020

In order to promote the high-quality development of trade and promote the stability and quality of Fujian’s foreign trade, Fujian Province has introduced 15 measures to support the development of enterprises.

　　Increase support for foreign trade entities

1. Encourage large-scale key foreign trade projects. Establish a provincial key foreign trade project database and implement dynamic management. The foreign trade performance of the warehousing projects in the second half of the year should reach a corresponding scale.

2. Give full play to the promoting role of state-owned enterprises. State-owned assets departments of provinces, cities, and counties strengthen performance appraisal of state-owned enterprises invested by foreign trade businesses, and promote state-owned enterprises to play an exemplary role.

3. Encourage high-quality enterprises and expand foreign trade in multiple forms. Encourage high-tech enterprises, “China’s well-known trademarks”, “provincially cultivated and developed internationally well-known brands”, “specialized and new” enterprises, epidemic prevention materials and qualified cultural relics to expand foreign trade. Encourage the expansion of foreign trade through foreign aid materials and foreign contracted projects. Promote the construction of service outsourcing demonstration cities, digital service export bases, and cultural export bases in our province, and provide support to service outsourcing companies to explore international markets through overseas investment and project cooperation.

4. Encourage multiple channels to expand the market. Support enterprises to make good use of platforms such as “cloud negotiation” and “cloud exhibition” to grab orders, and stabilize key overseas markets such as the United States, the European Union, and ASEAN, and emerging markets such as the “Belt and Road” initiative. Launched the “Thousands of Lawyers Helping Export” campaign. Support participating in the online “Baizhan” or through entrusting overseas partners, agents and other agents to participate in the “Baizhan”. Support the expansion of trade with the EU. Support foreign trade enterprises export to domestic sales. Support the holding of procurement matchmaking meetings for production companies, foreign trade companies and cross-border e-commerce companies.

　　Actively cultivate new forms and models of foreign trade

5. Increase market procurement support. Strengthen investment promotion, encourage larger market procurement scale, and support the pilot policy of superimposing pre-packaged food on market procurement. Customs, taxation, foreign exchange and other departments innovated and optimized supervision models to support the development of market procurement.

6. Enlarge the scale of cross-border e-commerce. Support the use of self-operated or third-party cross-border e-commerce platforms and overseas warehouses to expand cross-border e-commerce business. Support the promotion of cross-border e-commerce platforms. Support the infrastructure construction of customs supervision sites for cross-border e-commerce in the province. Support the construction of overseas warehouses in key countries or regions and expand public services for overseas warehouses. Support cross-border e-commerce companies operating in customs supervision sites to improve comprehensive services.

　　Increase financial support

7. Strengthen financial services. In the second half of the year, the Provincial Export-Import Bank and other policy-oriented and commercial financial institutions will increase the proportion of financing for foreign trade enterprises, set up green channels for financing key foreign trade enterprises, increase credit lines, and include them in the financing “white list”, reasonably reduce financing interest rates, and make good use of “Golden Service Cloud” “The platform implements “foreign trade loans” and special fund loans for small, medium and micro enterprises to provide relief, and provides policy support such as financial discounts and risk sharing. Encourage banking institutions to support the deferred repayment of principal and interest on loans for small and micro foreign trade enterprises, support the issuance of unsecured credit loans for small and micro enterprises, and support pledge financing of accounts receivable, inventory, and orders. Provincial finance will give certain support to banking institutions with good implementation of foreign trade financing. Improve the risk compensation and sharing mechanism, and increase policy guarantees to support credit guarantees for foreign trade enterprises.

8. Increase credit insurance support. Sinosure’s short-term insurance underwriting scale and year-on-year growth rate in the second half of the year will be better than that in the first half of the year. The average rate has decreased year-on-year, policy financing has increased year-on-year, and the amount of insurance coverage before shipment has increased year-on-year. The average short-term insurance payment time will be controlled within 30 days. The coverage of corporate credit guarantees will be covered. We will increase buyer credit limit support for key enterprises and high-tech product enterprises, and increase the limit satisfaction rate. Promote “Credit Insurance + Guarantee” to provide credit enhancement support for foreign trade enterprises’ financing. For credit insurance insured companies that have obtained financing through bank export pool financing products, the single financing period has been relaxed to 360 days. Explore the establishment of a credit database for key industries in our province.

9. Help companies prevent exchange rate risks. Bank of China and other banking institutions must innovate exchange rate hedging products, actively design products such as foreign exchange swaps, immediate forward exchange settlement and sales for enterprises, and provide online self-service foreign exchange settlement and pending order settlement services to help enterprises avoid exchange rate risks. Actively promote the RMB settlement business of cross-border trade and support payment institutions to participate in the pilot program of cross-border foreign exchange payment business. Support foreign trade companies to use exchange rate hedging products to prevent risks.

　　Optimize the environment for foreign trade development

10. Create a first-class port business environment. Before the end of 2020, the overall customs clearance time for import and export goods will be reduced by 10% on the basis of the province’s average level in 2019. The customs inspection rate of exported goods strives to be lower than the national average and lower than the level of advanced coastal areas, and supports the development of new foreign trade formats such as market procurement and cross-border e-commerce in accordance with the principle of tolerance and prudence. Carry out the supervision method of “prior inspection, release and inspection” for imported bulk commodities, and carry out the operation mode of “ship-side direct pickup” of imported goods and “direct loading on arrival” of exported goods. Accelerate the promotion of China (Fujian) international trade “single window” construction results, expand the application of “single window + smart customs clearance + financial services, port services, third-party services” and other models to implement one-stop customs, port, trade, banking, and tax services Provide full-chain services for foreign trade enterprises.

11. Optimize tax-related services. Reduce the tax refund time and speed up the tax refund progress. Optimize the export tax rebate environment, improve the relevance of the letter and the accuracy and timeliness of the letter. In principle, no repeated letter adjustments for the same purchase of goods within one year, and no more than 1 letter for the same company’s purchase of goods within the province within a year No more than 2 times of letter adjustment for the purchase of goods outside the province. Do a good job in the publicity of tax credit restoration policies, promote enterprises to complete restoration work in accordance with regulations, and improve corporate credit ratings. Prioritize circulation, review, approval, and tax refunds for key export enterprises.

12. Facilitate personnel exchanges. Open a fast channel for foreign trade enterprises’ foreign merchants, management and technical personnel for entry approval. Appropriately increase the number of APEC card applications for key foreign trade enterprises to provide convenience for enterprises to explore international markets. Foreign affairs departments at all levels streamline the approval process for foreign trade personnel of state-owned enterprises on business trips.

13. Smooth international and Hong Kong, Macao and Taiwan logistics channels. Promote the development of sea and air express services, open overseas freight routes, expand and strengthen all-cargo express, sea express, cross-border e-commerce, and international mail exchange services, and improve international logistics service capabilities. Encourage and support Xiamen to expand the international air cargo industry. In terms of the existing incentive policies for districts and cities, provincial finance supports regular intercontinental freight routes, regular freight charter flights to Asia, Hong Kong, Macao and Taiwan, and regular shipping lines between Fujian and Taiwan, and cross-border e-commerce shipping lines.

　　Strengthen local performance appraisal

14. Carry out positive incentive work in the second half of the year. In the second half of the year, the competent commercial authorities of districts and cities that have achieved significant results in implementing the stabilization of foreign trade will be given positive incentives. All localities provide support to key enterprises and key projects in their jurisdictions in light of local conditions.

15. Speed up the progress of policy implementation. In addition to the restrictions on support in the second half of the year, the above measures will be implemented once in the first quarter in principle, and cities and counties will speed up the encryption implementation. The same type of support policy for enterprises can be higher but not repeated.