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Zhejiang to assist foreign trade firms in domestic trade

ezhejiang.gov.cn| Updated: July 9, 2020 L M S

The Zhejiang Department of Commerce, the Zhejiang Provincial Development and Reform Commission, and seven other government departments jointly published guidelines to help the province's export-oriented enterprises sell products in the domestic market on July 3.

The guidelines focus on measures to help foreign trade firms with brand-building, sales, and financing so as to ensure stability in employment, finance, foreign trade, foreign investment, domestic investment, and market expectations.

According to an official from the Zhejiang Department of Commerce, the department will help foreign trade firms register domestic trademarks and acquire domestic patent authorization. It will also streamline approval procedures, expand market access, and intensify the promotion of domestic brands owned by foreign trade firms.

Foreign trade firms usually sell products overseas but lack the proper sales channels to sell domestically. To address this issue, the guidelines state that government authorities will help these firms establish their own sales networks in the domestic market. For example, Zhejiang authorities will promote the province's high-quality products across the country, especially in major cities such as Beijing, Shanghai, Guangzhou, Xi'an, Chengdu, and Chongqing. In addition, authorities will help the products enter pedestrian streets, department stores, supermarkets, and e-commerce platforms.

To help foreign trade firms deal with financial difficulties arising from the COVID-19 pandemic, the guidelines state that the province's banking sector will tailor financial products for foreign trade firms looking to gain a foothold in the domestic market, such as accounts receivable financing and credit loans.

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