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Shandong promotes stable growth of foreign trade, investment

from: date: 2023-08-07

Uploaded containers are seen at Qingdao Port in Shandong province on Jan 9, 2023. [Photo/VCG]

Shandong province recently launched 26 measures aimed at achieving higher-standard opening up, promoting stable growth of foreign trade and investment, and optimizing the business environment.

Officials said the province will make full use of international and domestic markets and resources, continue to expand international economic cooperation and trade, and push for in-depth reform and high-quality development by promoting high-standard opening up.

Ten targeted measures will be implemented to promote stability and quality of foreign trade. Efforts will be made to accelerate the import of bulk commodities and advanced technology and equipment. Shandong will also fully support enterprises to expand their market share and continue to promote the healthy development of cross-border e-commerce innovation.

Steps will be taken to strengthen export credit support, refine foreign exchange services, expedite the process for export rebates, and help foreign trade enterprises receive orders and maintain production.

The province will scale up input and develop new forms and models of foreign trade, give full play to the role of cross-border e-commerce, and support the establishment of a number of overseas warehouses.

Ten specific measures were also rolled out to better attract and utilize foreign investment. These measures will encourage foreign-invested enterprises to move into a broader range of sectors, and support more foreign investment in medium- and high-end manufacturing, R&D, and modern services.

Shandong will carry out more investment promotion activities, and deepen investment cooperation with key countries and regions. It will improve services for promoting foreign investment and accelerate the launching of major foreign-funded projects.

To optimize the business environment, six measures were launched to deal with unreasonable trade restrictions, optimize supporting services for international exchanges, create a good environment for the development of international talents, improve the efficiency of enterprise-related government services, and strengthen the protection of foreign investment rights and interests.