Focus on the two sessions ｜ expanding opening-up and preferential policies to ensure the stability and quality of foreign trade

On March 5, the fifth session of the 13th National People's Congress opened in Beijing. Premier Li Keqiang delivered a government work report at the Congress. The report pointed out that the past year was a landmark year in the history of the party and the country. Over the past year, in the face of complex and severe domestic and international situations and many risks and challenges, the whole country has made joint efforts to coordinate epidemic prevention and control and economic and social development. The main objectives and tasks of the whole year have been well completed, the 14th five year plan has made a good start, and China's development has made new major achievements.
The government work report puts forward the main expected development goals for this year, of which the GDP will grow by about 5.5%. In the field of foreign trade, the report proposes to expand high-level opening-up this year and promote the steady development of foreign trade and foreign investment. Make full use of the two markets and two resources, constantly expand foreign economic and trade cooperation, and promote deep-seated reform and high-quality development with high-level opening-up.

Take multiple measures to stabilize foreign trade

According to the statistics of the reporter of China trade news, there are 76 words "stable" in the government work report in 2022, which is also a new high in recent 10 years. This year's GDP target is set at about 5.5%, which is a clear target based on the average growth rate of 5.1% in the previous two years, indicating a clear intention to make every effort to stabilize growth. The interviewed experts believe that this is also the higher growth rate proposed in the face of the obvious triple pressure of "demand contraction, supply shock and weakening expectation" since the fourth quarter of 2021, which fully shows the government's determination to stabilize the economic market.
The 2022 government work report clearly proposes to take multiple measures to stabilize foreign trade. Specific measures include many favorable policies: expand the coverage of export credit insurance for small, medium-sized and micro foreign trade enterprises, strengthen export credit support, optimize foreign exchange services, accelerate the progress of export tax rebate, and help foreign trade enterprises stabilize orders and production; Accelerate the development of new forms and models of foreign trade, give full play to the role of cross-border e-commerce, and support the construction of a number of overseas warehouses; Actively expand the import of high-quality products and services; Innovate and develop service trade and digital trade, and promote the implementation of the negative list of cross-border service trade; We will deepen the reform of customs clearance facilitation, accelerate the construction of the international logistics system, and help foreign trade reduce costs and improve efficiency.
Export credit insurance has gradually penetrated into small, medium-sized and micro enterprises to give play to its value in stabilizing foreign trade. The government work report in 2015 mentioned that "we should expand the scale of export credit insurance and increase the export financing of large complete sets of equipment, which should be fully guaranteed". This year, it stressed that "we should expand the coverage of export credit insurance for small, medium and micro foreign trade enterprises". The government work report has mentioned export credit insurance for eight consecutive years.
In the face of complex challenges such as trade friction, repeated epidemics and tight logistics, it is difficult for small, medium-sized and micro foreign trade enterprises to be optimistic about going to sea, and export credit insurance is becoming more and more important. According to the data released by China SINOSURE, the company's annual underwriting amount was US $83.17 billion in 2021, a year-on-year increase of 17.9%; There were 162000 service enterprises, a year-on-year increase of 10.2%, and 134000 small and Micro customers, a year-on-year increase of 17.7%.
Stabilizing foreign trade requires multi sectoral coordination. Lu Qingguo, deputy to the National People's Congress and chairman and general manager of Chenguang biology, said in an interview with China trade daily that the national tax department should tailor professional and personalized services in combination with the characteristics of enterprises. For example, it is a good practice to sign the tax service agreement for "going global" enterprises, which can help enterprises improve the prevention and control ability of cross-border tax risks, reduce the tax management risk of overseas investment, and win more initiative in the development of "going global".
The reporter learned that the State Administration of taxation is the institution responsible for the negotiation, signing and implementation of bilateral tax agreements in China. When other countries (regions) do not implement preferential tax rates for Chinese enterprises in accordance with the agreements that have entered into force, relevant enterprises should actively report to the State Administration of Taxation and carry out bilateral tax negotiations when necessary. However, this work also needs the joint coordination and cooperation of foreign-related institutions of more countries to actively reduce taxes for enterprises.
Continue to release policy dividends
Macroeconomic growth mainly depends on the "troika". However, against the background of insufficient impetus for world economic recovery and high fluctuations in commodity prices, it is significantly more difficult to stabilize exports this year. In order to achieve the economic growth target of about 5.5%, maintain the stability and quality of imports and exports, and basically balance the balance of payments, China needs to actively participate in and maintain the multilateral trading system.
In this regard, the 2022 government work report also proposes to deepen multilateral and bilateral economic and trade cooperation. With the entry into force of the regional comprehensive economic partnership agreement (RCEP) and the formation of the world's largest free trade area, enterprises should be supported to make good use of preferential tariffs, accumulation of origin and other rules to expand trade and investment cooperation. Promote the negotiation and signing of high standard free trade agreements with more countries and regions. We will firmly uphold the multilateral trading system and actively participate in the reform of the WTO.
Gao Rongkun, member of the National Committee of the Chinese people's Political Consultative Conference and head of Shanghai Customs, said that there are many uncertainties in the growth of foreign trade this year. First, the international epidemic continues; Second, the global supply chain tension has not been completely alleviated; Third, the prevalence of international unilateralism and isolationism has increased the challenge to Global trade; Fourth, regional conflicts have increased the complexity of the international environment. Nevertheless, the relevant conditions for maintaining stability and improving the quality of foreign trade this year still exist. He suggested that we should unswervingly develop advanced manufacturing industry, because industry is the basis of trade, and industrial competitiveness determines the scale and quality of trade; To play the role of industrial agglomeration and radiation, we must plan from the height of industrial development, especially from the level of advanced manufacturing, and from the level of relevant industrial chain and supply chain.