According to the official website of Chongqing Municipal People’s Government, the municipality introduced the Several Policies of Chongqing on COVID-19 Control and Foreign Trade and Investment Stabilization on March 30.

Cuntan Port (Photo by Wan Nan)

The Policies contains 12 measures, including to support enterprises in an orderly resumption of work and maximum output, to increase financial support, to reduce logistics costs, to help enterprises in expanding international markets, to support steady development of processing trade, to increase support for service outsourcing, to strengthen legal aid for foreign trade, to improve export tax refund services, to ensure fast and convenient customs clearance, to innovate and optimize methods of foreign investment attraction, to strengthen services for overseas-funded enterprises, etc.

Generally, the Policies require relevant municipal departments and units to strengthen the overall planning and scheduling of cross-border and domestic logistics and ensure the supply of production materials for foreign trade and overseas-funded enterprises and the whole industrial chain. Relevant departments and units also need to assist processing trade enterprises in stabilizing orders, safeguarding employment, reducing logistics costs, and carrying out the technical transformation, as well as guiding the transfer of those enterprises from coastal areas, thus promoting steady and high-quality development of processing trade.

Specifically, the Policies make it clear that small and medium-sized foreign trade enterprises could enjoy the interest subsidy of 1% (annualized) according to the actual loan amount. Enterprises that failed to participate in the exhibition due to epidemic prevention and control will receive a full-amount subsidy if their booth fee could not be refunded.

Policies also include some special measures for the period of the epidemic. For foreign trade enterprises that cannot fulfill their international trade contracts on time or cannot fulfill the contracts because of the outbreak, the government will actively assist them in applying for the factual proof of force majeure.

According to relevant information, the Policies will be implemented until June 30, 2020.