China Import and Export Fair China takes steps to stabilize foreign trade, investment

Beijing - in the new round of coronavirus epidemic (covid-19), China will establish a new cross-border e-commerce pilot area, support processing trade, hold online Canton Fair, and stabilize foreign trade and investment,
Said the executive meeting of the State Council.
The meeting was presided over by Premier Li Keqiang, who decided to continue to implement preferential tax policies for inclusive financial services and small loan companies to help small and micro businesses, individual businesses and farmers through difficulties.
The accelerated spread of the epidemic has had an impact on the global economy and international trade and investment. The meeting said that governments at all levels must continue to implement the policy of opening up to the outside world and take measures to stabilize foreign trade and investment so as to reduce the impact of the epidemic on the national economy, especially the employment market.
In addition to the 59 cross-border e-commerce pilot areas that have been set up, China will build 46 new pilot areas to exempt value-added tax and consumption tax on retail exports in all pilot areas, and encourage enterprises to build and share overseas warehouses.
The meeting stressed that processing trade accounts for a quarter of the country's foreign trade, and it is necessary to increase efforts to promote the development of processing trade and help relevant enterprises solve problems.
Due to the global spread of coronavirus, China will hold the 127th China Import and Export Fair (Canton Fair) online in the middle and late June. With the help of advanced information technology, companies from all over the world will be able to display their products and negotiate online, and can also place orders and do business in China.
The meeting said that further efforts should be made to unblock international freight channels such as the China EU train and improve freight connectivity so as to stabilize the global supply chain and quickly resume work.
According to the meeting, the state will also extend some of the expired preferential tax policies to the end of 2023 to help small and micro enterprises, individual businesses and farmers through difficulties.