East China’s Jiangsu province will introduce 14 new measures to deal with the increasing uncertainties, instabilities and complexities in the international situation, expand imports, accelerate the cultivation of new foreign trade formats, help enterprises solve the actual difficulties they are currently facing, and promote the stable development of foreign trade, according to the Measures on Strengthening Cross-Cycle Adjustment and Further Stabilizing Foreign Trade issued by the General Office of the Provincial Government.
Jiangsu will implement the "Regional Comprehensive Partnership Agreement" at a high-quality level, innovate the way to participate in and organize exhibitions, and help foreign trade companies explore the international market in the online and offline manners.
The province will expand the underwriting scale of export credit insurance, increase export credit support, and take multiple measures to ensure the stable operation of foreign trade enterprises.
According to the new policy, in 2022, SINOSURE Jiangsu Branch will strive to provide 95 billion US dollars to support Jiangsu's foreign trade exports and investment, and increase the time spent on claims settlement by 10% compared with the same period last year.
The terminal interest rate assumed by foreign trade small and micro enterprises for on-lending shall not be higher than the provincial average loan interest rate for small and micro enterprises.
In order to ease the pressure of international logistics on the foreign trade supply chain, Jiangsu will support ports and shipping companies to open new routes or increase the density of existing routes, strengthen the construction of near-ocean routes connecting member states of the Regional Comprehensive Partnership Agreement, and encourage foreign trade enterprises to sign long-term transportation contracts with shipping and international freight train companies to ensure stable transportation capacity.
In 2022, Jiangsu will add at least one China-Europe freight train line, and operate 1,900 freight trains throughout the year to ensure smooth export channels for foreign trade enterprises.
