Pudong issues 10 key measures to boost intl trade

The Pudong New Area – located in East China's Shanghai city – issued 10 key measures to deepen its institutional opening up, improve the business environment and engage at a higher level in the global economy.

It did so on Nov 30 during the 2022 Pudong New Area Socialist Modernization Leading Zone Trade Promotion Conference.

Rules in terms of easing the burden on enterprises, has already been issued and will be fully implemented within the year.

Moreover, efforts will be made to deepen cooperation with Pudong Customs to promote the role of Authorized Economic Operator, or AEO agreements and other policy tools. The aim is to help companies resolve their issues in both exports and imports, thereby boosting the flow of global trade.

Efforts will also be made to ensure steady and high-quality growth in cross-border e-commerce and to promote the digital transformation and upgrading of traditional enterprises.

Furthermore, Pudong will pursue the implementation of the Regional Comprehensive Economic Partnership, or RCEP trade agreement introduced at the start of the year – which will slash tariffs between China and other member states and offer more market, investment and growth opportunities to the global business community.

Also issued at the conference were measures that detailed support for offshore international trade, upgrades to trade in goods and the developing of new mechanisms for trade in services.

Plans are for the Shanghai Municipal Commission of Commerce to create a better business environment for cross-border trade enterprises. This will include ensuring smooth international logistics services and continuing to standardize port charges.