State Council Opinions on Promoting Steady Growth of Imports and Exports

To promote a new round of higher level of opening up, is an important support to upgrade the quality and efficiency of the economy. We should further promote foreign trade facilitation, improve the business environment, alleviate burdens on foreign trade enterprises, promote the steady growth of imports and exports, and foster new international competitive advantage. Therefore, with the consent of the State Council, We made the following observations:

First, to resolutely clean up and regulate charges at the imports and exports. Regarding administrative fees, governmental funds, and government price or guiding management service fees at imports and exports, we’ll implement directory listing management, those not included in the list will be regarded as arbitrary charge and will be investigated. 

Second, to keep the RMB exchange rate basically stable at a reasonable and balanced level. To improve the RMB exchange rate marketization mechanism, to expand the floating range of the RMB exchange rate. To further improve the level of facilitation of cross-border trade in RMB, expanding the size of the settlement.

Third, to increase the export credit insurance support. To further expand the scale of short-term export credit insurance, to increase small and micro enterprises and emerging market development support. To realize of large complete sets of equipment export financing insurance, to further simplify procedures.

Fourth, to accelerate the development of new business models of foreign trade. To promptly implement "the State Council’s guidance on facilitating cross-border e-commerce healthy and rapid development." To actively promote China (Hangzhou) Cross-border e-commerce comprehensive experimental zone. To formulate policies and measures to support the development of foreign trade enterprises’ integrated services. Before the end of 2015, we’ll present programs further expanding the scope of the pilot and promoting foreign trade-related new business models of foreign trade, which will be implemented in early 2016.

Fifth, to continue to strengthen the imports. To expand the coverage of preferential import credit interest rates. Before the end of July 2015 we’ll adjust and issue "encouraged imported technologies and products catalog", adjust the scope of the import discount interest policy support, and promote the upgrading of domestic industries. To improve related policies of imports of consumer goods, to reduce tariffs of imported consumer goods domestic consumers have large demand for, then to expand the pilot, to moderately increase duty-free stores at the ports of entry, to reasonably expand duty-free product varieties, to increase a certain amount of tax-free shopping, to enrich domestic consumers’ shopping options.

Sixth, to further improve the level of trade facilitation. To further simplify administrative procedures and improve service efficiency. To further implement the management approach of the export tax rebate enterprise, to accelerate the progress of export tax rebates, to ensure full timely rebates. To improve customs clearance efficiency, to strengthen cross-sectoral and inter-regional customs cooperation, and to accelerate to form a national integrated clearance management structure.

Seventh, we’ll improve financial services. We’ll increase the financing support for the cost-effective business. To encourage the syndicated loans, hybrid loans and project financing to support enterprises to develop international markets, international production cooperation and promote Chinese equipment, "going out". To encourage commercial banks, according to risk control and sustainable business principle, to carry out export credit insurance financing.  (www.chinainout.com)