China rolls out new trade plan as US tariff concerns grow
Chinese government introduces fresh measures to boost international trade and support local companies. New policy focuses on financial aid and export growth while preparing for possible US trade changes
Chinas commerce ministry just rolled-out new trade-friendly policies (approved by Premier Li Qiang and his cabinet earlier this month): focusing on better financing and export growth for local firms
The move comes as Chinese exporters face uncertainty due to possible US trade changes - with economists saying new tariffs could reach 40% by early next year. This has made many manufacturers think about moving their operations to south-east Asia and other places
Trade remains a bright-spot in Chinas economy while other areas like real-estate and local spending dont show much life. The new rules aim to help companies deal with currency risks; financial groups will get support to create more risk-management products that keep the yuan stable
The ministry plans several key changes:
- More support for agricultural product exports
- Help with importing core equipment
- Better energy product access
- Easier travel rules for business people from key trade partners
The government wants to help firms deal with what it calls “unreasonable trade restrictions“ from other countries - looking to create good conditions for export growth. With predictions showing possible US tariffs could cut Chinas growth by 1%‚ these new trade-support measures seem well-timed
