Investment & Trade

Pilot projects planned for trade integration

Updated: May 11, 2022 By Zhong Nan Print
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Maersk Sofia, a container ship currently sailing under the flag of Singapore, docks at the Dapukou container terminal of the Port of Ningbo Zhoushan in Zhejiang province on Feb 2. [Photo by YAO FENG/FOR CHINA DAILY]

China will carry out pilot projects for the integration of domestic and foreign trade and form a batch of replicable experiences and practices to promote this trading form within three years, according to a circular released by the Ministry of Commerce on Tuesday.

The circular, issued by 14 central government departments including the Ministry of Commerce and the National Development and Reform Commission, said the government will facilitate the leading roles of its pilot free trade zones and other key platforms in integrating domestic and foreign trade in line with international rules in selected areas.

China will cultivate a group of companies with integrated management systems of domestic and foreign trade and build a number of platforms to support this sector within three years, according to the circular.

To support trade integration, the document stressed improving laws, regulations and supervisory rules and further aligning domestic trading rules and standards with global ones involving intellectual property rights protection, customs clearance and product certification, among other aspects.

The circular said efforts should be made to help companies such as cross-border supply chain service providers navigate operations in markets at home and abroad. Promoting integrated trade requires nurturing new business modes, such as digital development backed by modern information technology.

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