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China launches new guideline to boost high-value processing trade

03 Jan '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • China has introduced a guideline to improve its processing trade, with support from the ministry of commerce.
  • The guideline includes 12 measures across six areas to promote high-value product trade and provide better financial and tax support.
  • The processing trade involves importing materials for processing and re-exporting the finished products.
China has introduced a new guideline aimed at enhancing the growth of its processing trade, as announced by the ministry of commerce (MOC) along with nine other governmental departments. This guideline serves as a critical follow-up to a similar directive issued by the State Council in 2016.

The newly released guideline encompasses a total of 12 measures, which are categorized into six distinct areas. These measures are specifically designed to boost the processing and trade of products that have high added value. Additionally, they aim to offer enhanced financial and tax support to businesses engaged in the processing trade, according to Chinese media reports.

The processing trade, a significant segment of China's business activity, involves importing raw materials, parts, accessories, and packaging materials from overseas. After these imported goods undergo processing or assembly within China, they are then re-exported as finished products.

ALCHEMPro News Desk (DP)
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