Chongqing - In a recent bid to boost foreign trade, Southwest China's Chongqing Municipality unveils measures to stabilize and improve its international trade scale and structure.

The measures target four key areas: stabilizing trade scale, supporting international market exploration by enterprises, promoting trade innovation, and enhancing financial services.

"Chongqing Vehicles Going Abroad" action plan

One of the standout initiatives is the "Chongqing Vehicles Going Abroad" action plan. This plan is set to accelerate the development of a leading national export base for intelligent connected vehicles and new energy vehicles (NEVs), shifting from product exports to higher-value chains such as brand and technology exports. 

The smart factory of Seres in Chongqing Liangjiang New Area. (Photo/Wang Quanchao)

By 2027, Chongqing aims for its annual vehicle exports to account for 10% of the national total, establish more than one leading intelligent connected vehicles and NEV export enterprises and brands, and enhance the global reach of the NEV industry with annual exports exceeding 120 billion yuan.

To enhance exports, Chongqing is partnering with state-owned enterprises and coastal ports to secure shipping space for vehicle companies. It encourages vehicle manufacturers to sign capacity agreements with shipping operators and supports logistics platforms in partnering with shipping firms for roll-on/roll-off services.

In expanding its market reach, Chongqing is prioritizing the development of the New International Land-Sea Trade Corridor (ILSTC) and strengthening trade ties with ASEAN countries through individualized strategies and tailored trade guides for each of them.

A batch of vehicles produced by SAIC Hongyan Automotive is ready and waiting to be shipped for export to foreign markets. (Photo/Chongqing Economic and Information Technology Commission)

Market penetration in Europe, America, Japan, and South Korea

The city is dedicated to effectively implementing the Regional Comprehensive Economic Partnership (RCEP). It will utilize the Chongqing RCEP online and offline trade promotion center and enterprise service platform to assist businesses in maximizing the benefits of RCEP and other free trade agreements.

Chongqing will actively engage in international trade shows to strengthen cooperation with regions like Singapore and Hong Kong. It will also expand its presence in developed nations like Europe, America, Japan, and South Korea while exploring new markets of the Belt and Road Initiative in South America.

Sino Singapore (Chongqing) DC Multimodal Logistics Co., Ltd. is located at Liangjiang New Area. (Photo/Chongqing Daily)

Additionally, financial support will be enhanced by optimizing cross-border settlement services and expanding RMB settlement facilitation. Banks are urged to provide efficient cross-border financial services for offshore international trade and market procurement.

Chongqing is facilitating cross-border business travel by enhancing services for enterprises participating in overseas exhibitions and negotiations, supporting more businesses in applying for the APEC Business Travel Card, and actively promoting the resumption of international passenger and cargo flights to meet the needs of international personnel exchanges and foreign trade.