China pledges moves to stabilize foreign trade

China pledges more measures to stabilize foreign trade in the face of weakening global demand and rising protectionism, a commerce official said on July 30.

The country will provide financing support to foreign trade firms through various means and further expand export credit to micro, small and medium-sized foreign trade companies in a bid to keep them afloat amid the challenging external environment, Gao Feng, spokesperson for the Ministry of Commerce, told a regular press briefing.

China will continue to encourage foreign trade firms to tap the domestic market and support the development of new forms of business such as cross-border e-commerce and overseas warehouses to boost the export of micro, small and medium-sized businesses, Gao said.

Multi-pronged measures will be taken to stabilize the industrial and supply chains, he said, adding that the country's central, western and northeastern regions are encouraged to take over labor-intensive foreign trade industries.