(ATF) China plans to reduce red tape that limits export firms from selling products in the domestic market, hoping to strengthen the companies so that they can eventually resume coronavirus-hit outbound trade.
A guideline by the State Council said it will also help the companies expand their sales channels and strengthen financial assistance so that they can weather the economic impact of the virus.
This year China will offer domestic market access to products originally made for export if they meet certain technical standards. The government will also simplify the procedures for compulsory certification of products, according to the guideline.
Firms will be encouraged to make products for export and domestic sales on the same production lines, to the same standards and of the same quality. The measure will help them reduce production costs and facilitate trade transformation.
Domestic sales platforms will be established for the firms by setting up export product zones at online shopping festivals, and organising promotions at major shopping streets. Facilitating direct purchases by big commercial firms in the country, and attracting domestic buyers at major trade fairs are additional measures that will be taken, according to the guideline.
Efforts will be made to connect export firms with the country's new technology-based infrastructure, new urbanisation initiatives and other major projects. This will assist companies in enhancing collaborative innovations in the industrial chain, adjust industrial structure and accelerate technological upgrades, the council said.
The guideline emphasized measures to help firms develop marketable domestic products, create their own brands, make full use of new business modes, and embrace the integration of online and offline development to meet the demand of consumption upgrades in the country.
To step up financial assistance to export firms, financial institutions are encouraged to improve supply chain financing services and strengthen operational credit support for the firms.