China to step up efforts in high-quality development of foreign trade

The State Council has approved a plan to promote high-quality development of foreign trade during the 14th Five-Year Plan period (2021-2025), according to an official reply released on Nov 23.

With deepening reform of supply-side structure as the mainstay and promoting innovative development of trade as the driving force, the plan is aimed at pushing for high-quality development of foreign trade through coordinating trade development and security, and advancing high-level opening-up.

To make China a modern socialist country and build a community with a shared future for mankind, the plan calls for cultivating new advantages in global economic cooperation and competition, and creating a new prospect for international trade featuring openness, cooperation, inclusiveness, benefits for all, sharing and win-win outcomes, and facilitating dual circulation.

The State Council also urged governments of provinces, autonomous regions and municipalities to use high-quality foreign trade development as an important way to push forward local economies to higher levels and implement detailed plans in accordance with local conditions.