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Ningbo introduces 10 policies to stabilize foreign trade

On the basis of the promulgation of a series of favorable enterprise policies in the early stage, Ningbo has stabilized its foreign trade with “combination boxing”. On March 30, the city formally issued "Several Opinions on Supporting Foreign Trade Enterprises to Troubleshoot and Stabilize Orders and Expand the Market" (hereinafter referred to as "Opinions"). The Opinions set out ten policy measures including financing, credit guarantee, customs clearance, and law, starting from the major projects guarantee, order stabilization, and market expansion.  

It is reported that in order to support the implementation of the "Opinions", the municipal government has arranged financial funds of nearly 200 million yuan, and plans to launch a series of innovative measures that are at the forefront of the province, such as further reducing the rate of small and micro enterprises entering the unified insurance platform and implementing "ship straight to the side of the ship" for imports and  “direct loading after arrival" for exports, etc.

"Many of the" Opinions" are customized according to the most urgent needs of foreign trade companies at present, such as increasing the guarantee before export, supporting online market expansion, and increasing sales in the domestic market." The person in charge of the Municipal Commerce Bureau said.

In view of the current difficulties in the operation of enterprises, the "Opinions" highlights financial support. For enterprises with a size exceeding US $ 100 million, the city will establish a "white list" of financial assistance, and strive for a total of 100 billion yuan in preferential credit, and the municipal finance will also provide corresponding financial assistance.

In response to the increase in export risks, the "Opinions" highlights the support of credit guarantee before export. Our city will expand the coverage of insurance before export, relax the acceptance conditions, improve product support, and help enterprises share the losses caused by overseas buyers' cancellation of orders.

In response to the fact that traditional trade has difficulties, the Opinions highlights support for new formats. For enterprises' self-built overseas warehouse projects, the city will grant preferential loans with a term of not less than 2 years, and all small, medium and micro enterprises serving foreign comprehensive platform services will be included in the coverage of the “Trade Loan” policy.  

In response to the shrinking reality of the international market, the Opinions highlights support for the online and domestic markets. Support the operation and maintenance, digital marketing and other expenses of the digital trade exhibition platform and self-built online marketing platform where Ningbo foreign trade enterprises are stationed. At the same time, organize foreign trade companies to participate in domestic exhibitions, and support export companies to cultivate domestic sales of independent brands

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