China is making efforts to stabilize and upgrade foreign trade.
Latest data showed feeble April growth of only 0.1 percent in the total exports and imports. This suggest that foreign trade firms are under strain.
China’s Cabinet has released a guideline, specifying 13 targeted measures toward supporting import and export trade. It requires enhanced services for key foreign trade enterprises and un-hindered cargo logistics.
China will also seek to bolster cross-border e-commerce. Customs authorities nationwide have tailored region-specific measures to streamline procedures and fast-track freight clearance. For sea freight, Huzhou in east China has launched a pre-arrival declaration system, which allows importers to finish declaration, license verification and duty payments before their cargo enters ports. This reduces the cargo’s stay in port to less than 20 minutes.