New measures will be taken to stabilize foreign trade and foreign investment

Recently, the Ministry of Commerce held a regular online press conference. Spokesperson Gao Feng introduced the latest situation of foreign trade and foreign investment and answered questions.
The latest data show that from January to May this year, China's total import and export of services reached 1,868.6 billion yuan, down 14.6 percent year-on-year. In general, trade in services in the first five months of this year has two main features:
First, the deficit in trade in services was substantially reduced. In the first five months of this year, the decline in China's service trade exports stabilized, while the decline in imports further intensified. The decline in China's foreign trade exports was smaller than that of imports by 19.2 percentage points, resulting in a 44.9% decline in the deficit in service trade to 350.08 billion yuan, a year-on-year decrease of 285.15 billion yuan.
Second, the proportion of knowledge-intensive service trade continues to increase. Intellectual property rights fees, telecommunications and computer services, and information services and insurance services grew by 38.4 percent, 19.7 percent and 15.6 percent respectively. The sectors with faster growth in imports were telecommunications, computer and information services, and financial services, up 34.4 percent and 15.9 percent, respectively.
"In accordance with the arrangements of the CPC Central Committee and the State Council, the Ministry of Commerce is working with relevant departments to formulate new measures to stabilize foreign trade and foreign investment on the basis of previous investigations." Gao Feng said.
In terms of stabilizing foreign trade, we will continue to focus on ensuring employment for residents, ensuring the basic livelihood of the people, and ensuring market players. We will follow through on the implementation of policies we have already issued, and introduce related policies one after another to increase support for the protection of small, medium-sized and labor-intensive foreign trade enterprises. Mainly is the consummation foreign trade export drawback way, speeds up the foreign trade export drawback progress; To guide financial institutions to strengthen financing support such as credit, credit guarantee and guarantee; Strengthening security for personnel exchanges; We will accelerate the development of new export formats and models such as cross-border e-commerce. We will encourage the construction of overseas warehouses and increase support for the construction of export service platforms for foreign trade.
In terms of stabilizing foreign investment, we will continue to increase growth and stabilize foreign investment at the same time, continue to optimize the environment for foreign investment, and do a good job in attracting investment, securing business and stabilizing business. We will accelerate the implementation of the new negative List for foreign investment access and ensure the timely implementation of new opening-up measures. We will promptly revise the catalogue of industries that encourage foreign investment, further expand the scope of incentives, and enable foreign investment in more fields to enjoy preferential policies such as taxation. We will strengthen services for key foreign-funded projects, and coordinate efforts to solve difficult problems faced by foreign-funded enterprises and key foreign-funded projects. We revised and promulgated the Working Methods for Complaints by Foreign-invested Enterprises and other regulations to further foster a market-oriented, law-based and internationalized business environment.
"At the moment, the global economy is experiencing significant downward pressure. China always believes that the more difficult it is, the more important it is for all parties to uphold the principle of openness and cooperation, strengthen trade and investment cooperation and work together to meet challenges." Gao expressed the hope that relevant countries could create a fair, transparent and predictable investment environment for investors of all countries, continue to upgrade trade and investment liberalization and facilitation, and make positive efforts for the world and domestic economies to stabilize and recover and return to the track of growth.