China will spare no effort to stabilize foreign trade by increasing financial, insurance and fiscal support and strengthening cooperation with regional trade partners, especially Japan and South Korea, as the novel coronavirus pneumonia epidemic spreads worldwide, the Ministry of Commerce said on Thursday.
Li Xingqian, director-general of the ministry's Department of Foreign Trade, identified four priorities to stabilize foreign trade from the epidemic's fallout.
First, the ministry will give more financial support to foreign companies, such as increasing credit availability to meet exporters' financing needs, Li said at a news conference. Second, it will expand the coverage of short-term export-credit insurance, and work to decrease insurance rates within a reasonable range.
The ministry also will improve policies related to export rebates to reduce enterprises' costs while strengthening cooperation with major trading partners, Li said.
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