Chongqing- By 2025, the import and export of Chongqing's new forms and models of foreign trade will exceed 100 billion yuan (about 15.62 billion U.S. dollars) through accelerating trade digitalization, according to a plan issued on April 14.
Chongqing will focus on new forms and models of foreign trade by increasing innovation in policies, systems, management, and services, stimulating the vitality of market players, and accelerating the cultivation of new competitive advantages in foreign trade. For example, Chongqing will improve the new foreign exchange management system for offshore international trade by increasing credit support for offshore trade enterprises.
New forms and models
The new forms and models of foreign trade are an innovative practice for foreign trade to enter a new development stage and implement new development concepts. It is also an important trend of international trade development under the scientific and technological revolution.
In recent years, Chongqing has accelerated the upgrading of foreign trade transformation. According to a competent official with the Chongqing Municipal Commission of Commerce, the new forms and models have developed rapidly.
For instance, in 2021, the city's cross-border e-commerce reached 32.21 billion yuan, up 63.3% year on year. There are six comprehensive foreign trade service enterprises in Chongqing, more than 40 overseas warehouses, and one bonded maintenance project for processing trade. Chongqing is actively striving for the pilot market procurement trade.
10 cross-border e-commerce demonstration zones
Promoting the innovative development of cross-border e-commerce and optimizing and expanding the functions of cross-border local public service platforms, Chongqing aims to foster a number of offline cross-border e-commerce industrial parks through the "industrial zone + cross-border e-commerce" model.
By 2025, Chongqing will build 10 cross-border e-commerce demonstration zones with clustered elements, diversified subjects, and professional services.
At that time, the cross-border e-commerce imports and exports will reach more than 70 billion yuan, and the construction of a comprehensive cross-border e-commerce pilot zone will take the lead in China.
Meanwhile, Chongqing will further optimize the supervision of cross-border e-commerce and support the development of the "cross-border e-commerce retail import return center warehouse model" in special customs supervision zones.
Overseas warehouses
Chongqing will promote the healthy development of overseas warehouses in an orderly manner, speed up the layout of overseas warehouses in key markets, and improve the service functions of overseas warehouses.
By 2025, Chongqing will strive to cultivate about ten overseas warehouse enterprises with outstanding performance in information construction, smart development, and diversified services.
JD Global Purchase Warehouse has its products extend to beauty makeups, infant and mom products, health care products, and daily necessities, exceeding 1,500 varieties. (iChongqing/ Vivian Yan)
Market procurement
Developing market procurement trade involves, for example, supporting Dazu District, Yuzhong District, Jiulongpo District, and other districts and counties with larger market clusters, a higher concentration of overseas buyers, and a stronger willingness to declare market procurement trade mode pilots.
At the same time, Chongqing will build a comprehensive management system for market procurement trade and implement facilitation measures for market procurement trade.
By 2025, Chongqing strives to reach a market purchase trade export of more than 20 billion yuan, with more than 1,000 market participants.
Bonded maintenance
By supporting the comprehensive to accelerate the cultivation and introduction of maintenance enterprises, Chongqing carries out global maintenance business of aerospace, shipping, rail transit, engineering machinery, computer numerical controlled (CNC) machine tools, communication equipment, precision electronics, and other products.
Xiyong Comprehensive Bonded Zone. (Photo/ Lei Jian)
Comprehensive foreign trade services
Support the healthy development of foreign trade integrated service enterprises need to introduce and nurture several municipal-level integrated service enterprises and strengthen training and counseling for integrated service enterprises.
This is to regulate internal risk management, where the level of risk control on centralized tax refunds was enhanced.
Chongqing will explore the development of offshore trade by improving the new foreign exchange management system for offshore international trade.
Particularly, banks are encouraged to follow business development principles to simplify prior documentary reviews based on customer credit classification and business models.
In addition, Chongqing will enhance trade settlement facilitation and increase credit support for offshore trade enterprises by establishing a standing mechanism for mutual trust between banks and enterprises.
Jiangbeizui Financial Core Area. Jiangbeizui Financial Core Area now has over 300 financial enterprises, of which 73 set their national or regional headquarters here. (iChongqing file photo)
(Shi Jiaqi, as an intern, also contributed to this report.)