This is China’s Foreign Trade Policy Package in 2022

Jakarta, IDN Times – China issued a policy package to maintain the stability of its foreign trade this year. One of China’s steps is to help export-oriented companies receive orders and maintain their production capacity.

“This policy can accelerate the formation of a new model of foreign trade, provide greater opportunities for e-commerceand support the construction of warehouses for foreign trade goods,” said
Chinese Premier Li Keqiang, in the government’s performance report at the opening of the two-session parliamentary session in Beijing, Saturday (5/3/2022), as reported by AMONG.

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1. China will increase imports and expand investment

This is the List of China's Foreign Trade Policy Packages in 2022Chinese Premier Li Keqiang and German Chancellor Angela Merkel inspect the Honorary Soldier of the People’s Liberation Army at the Great Hall of the People in Beijing on September 6, 2019. BETWEEN PHOTO/Andrea Verdelli/Pool via REUTERS

China’s other foreign trade policy is to increase imports of higher quality products and services, and build a new digital and services trade system.

“The development of a logistics service system can help reduce costs and increase the efficiency of international trade,” said Premier Li.

Therefore, China will also increase and expand foreign investment in manufacturing, research and development, and data services spread across the central, western and northeastern regions.

2. China will enhance bilateral and multilateral trade cooperation

This is the List of China's Foreign Trade Policy Packages in 2022imported illustrations (IDN Times/Aditya Pratama)

In addition, China will also increase trade and economic cooperation, both multilateral and bilateral. According to PM Li, the Regional Comprehensive Economic Partnership (RCEP) has succeeded in creating a free trade area in the world.

“China will encourage some companies to take advantage of preferential tariffs and other rules within the RCEP framework, to enhance economic and trade cooperation,” he said.

China is also ready to cooperate with several other countries, which provide mutual benefits and benefits.

3. The parliamentary session was also attended by President Xi Jinping

This is the List of China's Foreign Trade Policy Packages in 2022BETWEEN PHOTOS/REUTERS/Aly Song/cfo/18

At the opening of the parliamentary session which was also attended by President Xi Jinping, PM Li read out a report on the past year’s performance and future work programs covering the fields of economy, trade, investment, finance, health, social welfare, and defense.

The two-session parliamentary session consisting of the National People’s Congress (NPC) and the Chinese People’s Political Advisory Assembly (CPPCC) runs until March 12. The NPC is similar to the DPR, while the CPPCC functions like the MPR.

The annual assembly was attended by 2,951 members of the legislature representing several regions, various ethnic minority groups, and other entities in China.

The two-session parliamentary session or commonly known as the “Lianghui” is held every early March except in 2020 due to the COVID-19 pandemic.

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