MOFCOM Takes Policy Measures to Shore up Foreign Trade

On September 27, 2022, the Ministry of Commerce (“MOFCOM”) released the Several Policy Measures on Shoring up Stable Growth of Foreign Trade (Measures), deciding to leverage cross-border e-commerce to shore up foreign trade and roll out policy measures to support development of overseas warehouses for cross-border e-commerce. The measures clarifies that all localities strengthen the protection of foreign trade enterprises in all aspects such as epidemic prevention, energy use, labor, logistics, etc., and give full support when necessary to ensure that foreign trade orders are delivered in a timely manner. At the same time, under the premise of compliance with laws and regulations and controllable risks, the support of export credit insurance for the construction and operation of overseas warehouses will be further strengthened. In addition, according to the Measures, the authorities will also move faster to lay out tax policies to facilitate returns of goods in exports through cross-border e-commerce.