According to Financial Association on November 22, the State Council Information Office held a regular press conference on State Council policies at 10 AM today. Wang Shouwen, the international trade negotiation representative and vice minister of the Ministry of Commerce, along with relevant personnel from the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People's Bank of China, and the General Administration of Customs introduced relevant policy measures to promote the stable growth of foreign trade and answered questions from reporters.

Chinese response to the so-called 60% tariff: paid by consumers and end users in the importing country.

A reporter asked, during his campaign for the US presidency, Trump stated that he planned to impose a 60% tariff on China. What impact do you think this will have on Chinese exports? How do you view this phenomenon?

In response, Wang Shouwen said that the Chinese economy has shown great resilience, with significant potential and vitality. We are constructing a new development pattern that focuses on domestic major circulation while promoting mutual reinforcement between domestic and international dual circulation. We have the capability to mitigate and resist the impacts of external shocks. At the same time, history has shown that a country imposing additional tariffs on China has not resolved its own trade deficit issue, but instead, it raises the prices of products imported from China and other countries. Ultimately, the tariffs are paid by consumers and end-users in the importing country, inevitably leading to increased prices for consumers, higher user costs, and inflation due to rising prices.

China and the USA are the two largest economies in the world, and there is a strong complementarity between their economies. We believe that if China and the USA can maintain a stable, healthy, and sustainable development trend in the economic and trade relationship, it will benefit both the people of China and the people of the USA, as well as people from all over the world, which is also the expectation of the international community. We are willing to engage in active dialogue with the US side based on mutual respect, peaceful coexistence, and win-win cooperation principles, to expand cooperation areas, manage differences, and promote the steady and far-reaching development of bilateral economic and trade relations. At the same time, China will firmly safeguard its own sovereignty, security, and development interests.

Ministry of Commerce: Will ensure the implementation of policies in the foreign trade sector to help foreign trade enterprises stabilize orders and expand markets.

Wang Shouwen, the international trade negotiation representative and vice minister of the Ministry of Commerce, introduced at the press conference that next, the Ministry of Commerce will work with relevant local places and departments to closely monitor the running situation of foreign trade, analyze changes in the situation, ensure the implementation of policies in the foreign trade sector, help foreign trade enterprises stabilize orders and expand markets, and provide strong support for the continuous recovery and improvement of the economy.

The Ministry of Commerce: will work with relevant departments to formulate special policy documents to expand green trade.

Wang Shouwen stated that the Ministry of Commerce will work with relevant departments to formulate a special policy document to expand green trade. The document is currently being drafted and is expected to be released at an appropriate time next year. The document plans some practical measures to enhance the green and low-carbon development capabilities of foreign trade enterprises, expand the import and export of related products, and establish a sound support and guarantee system, creating a good policy environment for expanding green trade.

Ministry of Commerce: The cancellation of preferential treatment for 'small packages' does not affect the competitiveness of cross-border e-commerce.

Wang Shouwen stated that cross-border e-commerce is a vital force in international trade, and the same is true in china. The cancellation of preferential treatment for 'small packages' does not affect the competitiveness of cross-border e-commerce. To support the development of cross-border e-commerce, our country has introduced some specific measures. First, strengthen the matching of supply and demand; second, ensure compliance; third, vigorously support the cross-border e-commerce sector; fourth, deepen international cooperation.

Ministry of Commerce: Provisions related to cross-border e-commerce have been included in the recently signed and upgraded free trade agreements.

Wang Shouwen stated that in the recently signed and upgraded free trade agreements, the Ministry of Commerce has integrated cross-border e-commerce as a new provision to promote the development of cross-border e-commerce between our country and relevant free trade agreement countries. At the same time, as an important member of the World Trade Organization, china is promoting negotiations on e-commerce agreements within the WTO, hoping that these negotiations will conclude early, enabling the joint promotion of cross-border e-commerce, a new form of advanced productive forces, with more WTO members.

Ministry of Commerce: Vigorously develop cross-border e-commerce to empower industrial belts and encourage platform enterprises and leading enterprises to delve into local characteristic industrial belts.

Wang Shouwen stated the strong development of cross-border e-commerce to empower industrial belts. Encourage platform enterprises and leading enterprises to delve into local characteristic industrial belts, including cooperation in 165 cross-border e-commerce comprehensive pilot zones nationwide, helping more foreign trade enterprises, especially small and micro enterprises, to connect with foreign buyers through cross-border e-commerce online platforms, obtain orders, and participate in international trade.

The Ministry of Commerce: Will work with relevant departments to guide shipping companies in optimizing route layout to ensure capacity supply for popular routes in Latin America, the Middle East, and Southeast Asia.

Wang Shouwen stated that in the next step, the Ministry of Commerce will organize local foreign trade enterprises and foreign transportation companies in conjunction with the transportation department to facilitate better matching of supply and demand in marine transportation. Shipping companies are encouraged to develop online platforms to meet the booking needs of small and medium enterprises. In collaboration with relevant departments, especially the marine transportation regulatory authority, shipping companies will be guided to optimize route layouts and ensure capacity supply for popular routes in Latin America, the Middle East, and Southeast Asia.

Consular Department of the Ministry of Foreign Affairs: Will create more convenience for travel between China and foreign countries, especially for business personnel.

Tong Xuejun, the head of the Consular Department of the Ministry of Foreign Affairs, stated at the meeting that in the next step, the ministry will create more convenience for travel between China and foreign countries, especially for business personnel.

Consular Department of the Ministry of Foreign Affairs: As of now, China has established mutual visa exemption agreements covering different passport types with 157 countries and regions.

Tong Xuejun stated that in the past year, we signed mutual visa exemption agreements with six countries, including Singapore, Thailand, Kazakhstan, Antigua and Barbuda, Georgia, and the Solomon Islands, and now we have achieved comprehensive visa-free access with 25 countries. We also followed the practices of some other countries to implement a unilateral visa-free policy for 29 countries, including France and Germany. As of now, China has established mutual visa exemption agreements with 157 countries and regions covering different passport types. Additionally, foreigners can use transit visa exemption, cruise visa exemption, and specific area visa-free policies to visit China or conduct business activities.

The Ministry of Industry and Information Technology: Actively guide and promote enterprises to integrate into the international industry chain and supply chain, take multiple measures to enhance the reputation of China's manufacturing brand.

He Hailin, head of the running monitoring and coordination bureau of the Ministry of Industry and Information Technology, stated that efforts will be made to actively guide and promote enterprises’ integration into the international industry chain and supply chain with various measures to enhance the brand reputation of Chinese manufacturing. Manufacturing enterprises will be guided to compete in an orderly manner and improve the quality of industrial products. Increased efforts will be made to protect brands and maintain the image of Chinese manufacturing. In 2024, a total of 72 Chinese companies entered the list of the world's top 500 brands, among which 25 are manufacturing enterprises.

The Ministry of Industry and Information Technology: Research and formulate an action plan for the digital transformation of the manufacturing industry and promote an action plan for ai-enabled new industrialization.

He Hailin stated that research is being conducted to develop action plans for the digital transformation of the manufacturing industry and to promote AI-enabled new industrialization action plans, build a number of intelligent factories and smart supply chains, vigorously develop smart logistics equipment, promote the construction of cross-border e-commerce rules that align with international standards in areas such as data flow, commodity traceability, and electronic signatures, and expand new space for digital trade.

The Ministry of Industry and Information Technology: As of November this year, it has helped more than 0.09 million domestic and foreign small and medium enterprises expand their markets.

He Hailin stated that efforts are being made to enhance the service level for enterprises going abroad. The Ministry of Industry and Information Technology guides intermediary organizations to fully play their roles in market analysis, industry self-discipline, and provide a package of services related to national policies and regulations, green certification, and financial compliance. As of this year, nearly 700 matchmaking events for small and medium enterprises have been held both online and offline domestically and internationally, helping more than 0.09 million domestic and foreign small and medium enterprises expand their markets.

The Ministry of Industry and Information Technology: Will continue to expand high-level opening-up in the telecommunications industry.

He Hailin stated at a regular press conference on State Council policies held by the State Council Information Office that the Ministry of Industry and Information Technology actively supports foreign-funded enterprises to establish R&D centers in China, cooperate with domestic enterprises in technological research and development and industrial cooperation, and provide better services and guarantees for scientists, entrepreneurs, and investors from various countries who come to China for innovation and entrepreneurship. He encourages manufacturing enterprises to deepen foreign investment and cooperation. He Hailin stated that the Ministry of Industry and Information Technology will continue to expand high-level opening-up in the telecommunications industry, manage pilot enterprises well, and legally protect the rights and interests of investors.

The People's Bank of China International Department: The RMB exchange rate will remain fundamentally stable at a reasonable and balanced level.

Liu Ye, head of the International Department of the People's Bank of China, stated at the meeting that the factors affecting exchange rates are diverse, and in the future, the RMB exchange rate may maintain a two-way floating trend. The People's Bank of China will continue to adhere to the decisive role of the market in exchange rate formation, maintain the flexibility of the exchange rate, while strengthening expectation guidance, preventing the forex market from forming unilateral consistent expectations and self-fulfilling situations, resolutely preventing exchange rate overshooting risks, and maintaining basic stability of the RMB exchange rate at a reasonable and balanced level.

The International Department of the People's Bank of China: Continuously increasing financial support to stabilize the development of foreign trade.

刘晔表示，人民银行持续优化跨境贸易人民币结算环境，提高跨境贸易便利化水平。今年前三个季度，货物贸易人民币跨境收付金额8.9 trillion，同比增长约15%，占同期货物贸易本外币跨境收付金额比重高达26.5%，同比提高2.1%。跨境人民币业务服务实体经济能力进一步提升，降低外汇市场波动对企业影响。下一步，人民银行将继续积极配合商务部和有关部门，持续加大金融支持外贸稳定发展力度，推动对外贸易持续向好。

General Administration of Customs: Promote the export of characteristic advantageous shenzhen agricultural products group and the import of energy resources and other products.

海关总署综合业务司负责人林少滨表示，一直以来，海关通过加大企业对外官方注册的推荐力度、设立鲜活易腐农产品属地查检绿色通道、帮助企业积极应对国外不合理贸易限制措施，助力我国农产品“走出去”。下一步，我们将继续打好政策指导、便利通关、技术标准服务等“组合拳”，支持特色农产品扩大出口。海关将持续优化“先放后检”“检验结果采信”等便利措施，特别是近期推出深化真空包装等高新技术货物布控查验模式改革，指导企业用好各类税收优惠政策，更好地服务高新技术设备和能源资源等产品“引进来”。

Editor/Lambor