Three-year action plan for promoting foreign trade in Sichuan province (2018-20)

Sichuan province in Southwest China released in November 2017 a three-year action plan for promoting foreign trade (2018-20) to build an export-oriented economy in the province more effectively and faster.

It is expected that the import and export volume of the whole province's goods trade will exceed 550 billion yuan ($79.93 billion) by the end of 2020. The proportions of electromechanical products and new high-tech products in Sichuan's total import and export volume will be maintained at around 70 percent and 60 percent separately.

The import and export of processing trade in 2020 will reach 260 billion yuan with an annual growth of about 9 percent, and the import and export volume of 100 companies will surpass 500 million yuan each.

Located on the critical junction of the Belt and Belt Initiative (BRI) and the Yangtze River Economic Belt, Sichuan enjoys an unique geographic location and will further open to southern and western regions.

Benefiting from abundant natural scenery, cultural resources and completed industrial advantages, Sichuan will promote the overall development among different cities and regions and boost the development of export-oriented industries. The province will give full play to preferential policies from the central and provincial governments in supporting improvement in the environment for foreign trade development.

Sichuan will actively import advanced technologies, key equipment and important accessories that are in short supply, and export high-grade and high value-added products along with the whole industrial chain featuring products, technologies and services to promote the transformation and upgrading of foreign trade.

Reform and innovation are set as the major impetuses for the transformation and upgrading of Sichuan's foreign trade.

Platforms for expanding markets will be established and companies will be supported to participate in international exhibitions and fairs to promote Sichuan brands. A batch of Sichuan brands with higher visibility and international competitiveness will be cultivated to promote the overall quality of products exported from the province.

The construction of an overseas marketing system will be accelerated, allowing companies to set up overseas marketing system such as branches, marketing networks, warehouses, display centers, exclusive shops and subsidiaries.

Foreign trade companies will gain support in areas such as loan interest expenses and the purchase of production equipment while carrying out technical transformation and research and development. Sichuan will integrate the development of foreign trade, foreign capital and foreign economy, and make full use of their auxo-action in developing foreign trade. Companies will be encouraged to carry out contracting and investment in overseas projects.

The province will further develop the processing trade and port economy while cultivating foreign trade bases for characteristic industries.

Sichuan will make full use of development zones in the area to develop the open economy, emphasizing the construction of development zones at national and provincial levels and boosting the construction of special customs surveillance zones.

Comprehensive foreign trade service enterprises will be cultivated to offer various kinds of services such as customs clearance, customs inspection, financing and intellectual property. More cargo airlines and railway lines will be opened to improve cargo gathering capacity and service efficiency.

The development of foreign trade will be integrated with the construction of legal institutions, industry collaboration, technology, talents and finance as safeguard measures.