An aerial view of Tangshan Port, Hebei province in December 2023. [Photo / Xinhua]
China, on top of effective implementation of existing policies aimed at stabilizing foreign trade, will explore and introduce new measures should the shifting dynamics call for it, as part of its efforts to turn the country into a trader of quality, said Commerce Minister Wang Wentao.
In its ongoing efforts to enhance its foreign trade sector, China is actively cultivating new drivers for growth and expanding intermediate goods trade, Wang said in an interview with People’s Daily published on Thursday.
Stronger steps will be adopted to promote green trade development and the full-chain digital transformation of the trade sector, Wang said, adding that China will continue to create an enabling environment that fosters the sound and sustained growth of cross-border e-commerce.
China will unveil a set of policies aimed at reforming and innovating the development of digital trade, and providing a clear institutional and policy framework for the country’s digital trade sector, Wang said.
Meanwhile, China will build upon its existing institutional framework and align with international economic and trade rules to explore the establishment of a governance system for cross-border data flows, aiming to strike a balance between promoting data mobility and ensuring safety and privacy, Wang added.
In addition, China will take further steps to deepen its opening up in the service sector, aiming to facilitate market access in such industries as telecommunications and healthcare, among others, Wang said.
As part of its efforts, the country will introduce and implement a cross-border service trade negative list, which provides a clear guideline of the sectors where foreign investors can actively participate and contribute, Wang added.
Moreover, China will diversify import channels to increase imports of high-quality consumer goods, advanced technologies, crucial equipment, key components, as well as energy and agricultural products. These efforts aim to transform China’s vast market into a globally shared marketplace, Wang said.
