Shanghai Issued Several Measures to Improve Quality of Foreign Trade

On August 4, 2023, the Shanghai Municipal Commission of Commerce published the Notice on Issuing Measures to Promote the Stabilization of the City’s Foreign Trade and Improve the Quality of Services (the “Measures”) on its website.

The Measures has four aspects and 12 items, which proposes to accelerate the expansion of policy-based credit insurance coverage, to stabilize the basic market of foreign trade with high-quality guarantees and strong compensation, to coordinate resources to help foreign economics improve quality and efficiency, to accelerate the expansion of new space in key markets, and to accelerate the cultivation of new industries for competition, increase support for the new development of key enterprises, jointly promote digital empowerment, jointly promote credit insurance financing, vigorously support new formats and new models, vigorously promote policy integration, comprehensively serve national strategies, and continue to optimize enterprise services.