Xiamen to promote foreign trade amid pandemic

Government departments will work with financial institutions to ensure the stable development of foreign trade and foreign-funded companies in Xiamen, Fujian province, local officials said at a match-making meeting on May 6.

More than 500 companies attended the meeting on-site or through video to learn about preferential policies and financial packages offered by the local government and financial institutions.

Statistics show that Xiamen's foreign trade rose 3.7 percent year-on-year to 144.22 billion yuan ($20.37 billion) in the first quarter of 2020, and the actual use of foreign capital increased 30.1 percent to 5.97 billion yuan, accounting for 53 percent of Fujian's total.

The growth is the result of the government's quick response to the novel coronavirus outbreak.

Since the beginning of the outbreak, the government has taken effective measures to help companies promote foreign trade, attract investment and expand overseas markets. Relevant departments also relaxed restrictions on subsidies distribution and streamlined application procedures.

In response to the government's call for helping companies experiencing difficulties, local financial institutions have issued more loans with lower interest rates compared with the same period last year to reduce costs for businesses.

As the pandemic continues to spread globally, Xiamen will keep improving its ability to withstand risk, officials said.

The city will export medical supplies in an orderly manner with the premise that the domestic demand is satisfied. Companies are encouraged to hold online fairs and promotional conferences, and boost cross-border e-commerce to expand their overseas market.

The government will also strive to attract foreign investment in the automotive, aerospace, modern logistics, financial and biomedical industries.