China to adopt measures to strengthen foreign supply chains

18 Feb '22

1 min read

Pic: ABCDstock / Shutterstock.com

China’s Ministry of Commerce (MOC) has said that it plans to adopt various measures to strengthen its foreign trade supply chains to manage raw materials price hikes and supply constraints. The ministry will help enterprises with enhancing international cooperation to build raw material trade channels that are mutually beneficial and help reduce costs.

The ministry will also guide enterprises to make the most of preferential policies, Gao Feng, MOC spokesperson, told a press conference recently.

The ministry also plans to continue optimising the country’s business environment, implement tax cuts and fee cuts as well as reduce arbitrary charges to boost the development of foreign trade firms, said Gao.

The country’s foreign trade reached 39.1 trillion yuan ($6.17 trillion) in 2021, up 21.4 per cent year over year, according to official data.

ALCHEMPro News Desk (KD)

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