China trade: Beijing targets exporters for help on rocky road to economic recovery
- The State Council says it is working on ways to stabilise trade and boost market confidence
- Overseas buyers are looking for alternative sources and demand in general is waning, analysts say
China plans to launch a fresh series of incentives to help exporters secure overseas orders and tap growth in developing markets as economic signals point to greater challenges ahead.
At a State Council meeting on Friday, Premier Li Qiang said Beijing was working on “a combination of supportive policies” for the sector, warning the economic recovery was at a critical stage and more measures were needed to boost market confidence and “consolidate the growth momentum”.
“We must help exporters to secure orders and expand markets with a combination of trade stabilisation policies,” state news agency Xinhua reported, citing the council’s statement from the meeting.
“We must try every means to stabilise exports to developed economies, and guide exporters to explore the markets of developing countries and the Association of Southeast Asian Nations.”
The report did not say what kind of support would be given but previous meetings of the Ministry of Commerce suggested the help could relate to customs procedures, logistics, funding and bigger market access via international trade agreements.
