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Notice of the General Office of the Ministry of Commerce on enhancing coordination to stabilize foreign trade and foreign investment and stimulate consumption with greater financial support
【2020-07-22】

On July 8th, the Ministry of Commerce published Notice on enhancing coordination to stabilize foreign trade and foreign investment and stimulate consumption with greater financial support, requiring local commerce departments to implement the decisions and plans of the CPC Central Committee and the State Council in real earnest, so that finance can play an active role in stabilizing foreign trade and foreign investment, and driving consumption.

The Notice required local commerce departments to timely learn the financial needs of businesses and help them resolve difficulties. It is important to share with branches of the PBoC and local financial institutions information about businesses that need financial services, while complying with relevant rules, so that business needs can be met. They should also create a sound policy environment and formulate targeted measures to help businesses access financing at a affordable cost and reasonable speed.

The Notice asked local commerce departments to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics, uphold political integrity, keep in mind the larger picture, follow the core Party leadership and its policies, maintain confidence in China’s path, theories, system and culture, defend the core leadership of Comrade Xi and the authority and collective leadership of the CPC Central Committee.The decisions and plans of the CPC Central Committee and the State Council must be implemented in real earnest, so that more financial resources can be funneled to prop up foreign trade, foreign investment and consumption.