China, one of the world's largest consumer markets and the leading global goods trader, is pushing forward with efforts to promote the integrated development of both domestic and foreign trade.
A recent circular released by the General Office of the State Council outlines 18 measures designed to accelerate this integrated development. Officials from various departments emphasized the importance of opening up both the domestic and international markets, encouraging foreign trade companies to diversify into domestic sales and domestic trade enterprises to engage in foreign trade. Vice Minister of Commerce Sheng Qiuping underscored the goal of helping enterprises operate effectively in both domestic and international markets.
The integration of domestic and foreign trade aims to enhance the capabilities of enterprises in navigating both markets. This involves improving systems and mechanisms, creating common platforms, and optimizing public services to enable businesses to adapt smoothly to changes in both domestic and international markets.
The circular outlines several key actions, including aligning rules and systems for domestic and foreign trade, promoting the connection of market channels, and improving the business environment for integrated development. These improvements include enhanced protection of intellectual property rights, improved credit systems, and streamlined logistics facilitation. The circular also highlights the importance of fiscal and financial support.
Differences in standards and conformity assessments can significantly impact international trade. Therefore, China's market watchdog, the State Administration for Market Regulation, will work to promote consistency between domestic and international standards and strengthen mutual international recognition of conformity assessment.
These measures are aimed at not only enabling foreign trade companies to expand into the domestic market but also supporting their overseas expansion through new foreign trade formats and models such as market procurement, cross-border e-commerce, and overseas warehouses.
