Tianjin Launches 28 Measures to Promote Foreign Trade

Recently, the General Office of Tianjin Municipal Government has issued Measures for Stabilizing the Base of Foreign Trade and Foreign Capital in Tianjin and Promoting the Innovative Development of Foreign Trade. The 28 measures protect the development of foreign-trade and foreign-funded enterprises in Tianjin from market expansion, structure optimization, business models innovation and service improvement, etc.

According to the Measures, Tianjin encourages enterprises to use new technologies and new channels to optimize the international market layout. For instance, Tianjin will help enterprises to further explore the markets of countries related to free trade agreements such as RCEP and build a safe and stable industrial and supply chain.

Tianjin will continue to expand the scale of general trade and increase the added value of products. The export industrial clusters will be cultivated in automobile, bicycle, carpet, hardware and Chinese medicine.

In terms of cultivating new growth driver of foreign trade, Tianjin will accelerate the development of foreign trade new format such as cross-border e-commerce and emerging service trade such as Chinese medicine and culture. In the field of trade digitalization, it will build a high-level “international digital service port” and build a demonstration zone for digital trade innovative development in Beijing, Tianjin and Hebei.

In terms of serving foreign capital, Tianjin will improve the tracking service mechanism for large-scale foreign investment projects, fully implement foreign investment Pre-establishment National Treatment and negative list management system access, further intensify the opening up of information transmission, education and health. Tianjin will also provide convenience for foreign-funded enterprises in reducing the cost of free entry and exit of foreign exchange funds and identifying high-tech enterprises.