Stable foreign trade new policy will release cross-border e-commerce and other incentive policies introduced during the year
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According to the State Council’s policy briefing held on the 17th, according to Wang Fuwen, Vice Minister of Commerce, the 98th executive meeting of the State Council reviewed and approved the “Opinions on Supporting Stable Growth of Imports and Exports†(hereinafter referred to as “Opinions†), relevant policy opinions will be announced in the near future. In addition, plans to further expand cross-border e-commerce related pilot areas and promote new foreign trade business models will be introduced before the end of this year and will be implemented early next year.
According to Wang Shouwen, the "Opinions" involve measures to further improve the foreign trade environment, strengthen policy support, accelerate reforms, and highlight innovation drivers.
In terms of improving the foreign trade environment, the level of trade facilitation has been ranked first. The "Opinions" emphasize the pilot of promoting a single window of trade at various ports along the coast by accelerating reform measures for customs integration, improving the efficiency of port reform, accelerating the progress of export tax rebates. In addition, it is necessary to clean up and standardize the charges for import and export. We will “establish a positive list of import and export link fees†to “increase supervision and form a long-term mechanism for foreign trade enterprises to loosen and reduce burdensâ€.
Zou Zhiwu, deputy director of the General Administration of Customs, said that the next step will be to achieve nationwide integration and customs clearance. It is necessary to set up a national customs risk prevention and control center and a national customs tax collection and management center. Institutional innovation should also be realized at three levels: the declaration system, the tax collection and management system, and the customs supervision mode.
Wang Kang, deputy director of the State Administration of Taxation, said that according to the requirements of the Standing Committee to speed up export tax rebates, we will further refine and improve various measures to speed up export tax rebates, further optimize services, simplify processes, and improve tax rebate efficiency.
The rise in the real effective exchange rate of the renminbi this year is also one of the factors affecting exports. In this regard, the "Opinions" emphasizes further improving the formation mechanism of the RMB exchange rate marketization, improving the level of facilitation of cross-border RMB settlement, expanding the settlement scale, and researching and introducing more hedging products to help enterprises avoid exchange rate risks. In addition, it also proposed "focusing on improving financing services for foreign trade enterprises", "supporting financial institutions to carry out export loans for export tax rebates, and conducting export credit insurance policy financing", "continue to strengthen the policy of short-term insurance for export credit insurance, and increase the Financial support policies such as support for SMEs and emerging market development.
In addition, the "Opinions" emphasizes the continued strengthening of import work, "adjust the "Encourage Import Technology and Product Catalogue", expand the coverage of preferential interest rate import credits", and "explore the import tariffs for some domestic consumer goods with large domestic demand, and appropriately increase the number of imports." The port entering the duty-free shops, reasonably expand the tax-free varieties, and increase the amount of tax-free shopping quotas to promote the return of overseas consumption."
Despite the poor overall performance of foreign trade this year, the new foreign trade development model, including cross-border e-commerce, has gradually become the “new engine†for foreign trade growth. In this regard, the "Opinions" proposes to accelerate the development of new business models for foreign trade and formulate policies and measures to support the development of foreign trade integrated service enterprises.
“Before the end of 2015, the plan to further expand the scope of relevant pilots and promote new business models for foreign trade will be proposed and will be implemented in early 2016.†Wang received a report. He also said that cross-border e-commerce as a new format, rapid development in China, high enthusiasm everywhere, cross-border e-commerce transactions are small, lots of batches, most of the enterprises are small and medium-sized enterprises, the supervision is relatively difficult, in the settlement, System innovation is required for tax refunds, customs declarations, inspection and quarantine.
"The Ministry of Commerce is working with relevant departments to divide the work according to their responsibilities, speed up the implementation of relevant policies and measures, and ensure that all policies fall as soon as possible." Wang said.
