Cabinet pledges support for foreign trade

Aid to help labor-intensive exporters ride out impact of COVID-19 pandemic

The State Council has pledged stronger support to foreign trade companies, especially smaller ones and labor-intensive businesses, as the country scales up efforts to mitigate disruptions to global trade from the COVID-19 pandemic.

Key policies include further amplifying the role of export credit insurance to shield exporters against the risks of orders being canceled and guiding financial institutions to bolster credit support to smaller foreign trade companies.

They were part of 15 measures unveiled in a document released by the General Office of the State Council on Aug 12 to stabilize foreign trade and investment.