Earth Science News
TRADE WARS
China unveils new measures to boost foreign trade
China unveils new measures to boost foreign trade
by AFP Staff Writers
Beijing (AFP) Nov 21, 2024

China unveiled new measures on Thursday to boost foreign trade, as Beijing battles to turn around a slowing economy threatened further by the potentially hostile policies of incoming US president Donald Trump.

The world's second-largest economy has struggled to revive growth since the Covid pandemic and remains beset by a debt crisis in the crucial housing sector, chronically low consumption and high youth unemployment.

Prospects may have darkened further with Trump's election, given the mercurial US leader hiked tariffs on Chinese imports during a wide-ranging trade war during his first term in office.

Beijing's commerce ministry released a notice on Thursday ordering all levels of government to immediately implement nine policies to "promote the stable growth of foreign trade, and consolidate and enhance the economy's upward momentum".

The measures included an expansion of export credit insurance, strong financing support for foreign companies and smoother cross-border trade settlements.

Other moves aimed to further develop cross-border e-commerce, push exports of speciality agricultural products, and more support for imports of "key equipment, energy resources and other products".

The ministry also ordered innovation in "green trade", more cross-border personnel exchanges and better shipping and employment guarantees for foreign enterprises.

All provincial and local governments must "closely follow the foreign trade operating situation, analyse changes... and provide strong support for the continued recovery of the economy", the statement said.

In his first White House term, Trump engaged in a bruising trade war with China, imposing tariffs on billions of dollars in Chinese products and drawing retaliation from Beijing.

China has declined to comment directly on the likelihood that Trump will pursue an even more hostile policy this time around.

President Xi Jinping told incumbent US President Joe Biden last week that Beijing would "strive for a smooth transition" in ties and was willing to work with the Trump administration.

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
China's Xi urges 'strategic' ties in talks with Germany's Scholz
Rio De Janeiro (AFP) Nov 19, 2024
Chinese leader Xi Jinping called for Beijing and Berlin to develop ties with a "strategic" and "long-term" perspective Tuesday as he met with German Chancellor Olaf Scholz in Rio de Janeiro, state media said. "China and Germany are both major countries with significant influence," Xi told Scholz on the sidelines of the G20 summit, according to Beijing's state news agency Xinhua. "The two countries need to view and develop bilateral relations from a long-term and strategic perspective," Xi said. ... read more

TRADE WARS
Keeping global consumption within planetary boundaries

Americans face an insurability crisis as climate change worsens disasters

Spain royals cheered in flood epicentre after chaotic trip

School stampede in China's Xinjiang injures 14; Multiple injured in car crash at central China school

TRADE WARS
Oldest alphabetic writing found in ancient Syrian tomb

Enormous potential for rare Earth elements found in US coal ash

Scientists show how a laser beam can cast a shadow

MIT engineers make converting CO2 into useful products more practical

TRADE WARS
NASA data aids global efforts in combating sea level rise

Floods hit northern Philippines after typhoon forces dam release

In Colombia, a river's 'rights' swept away by mining and conflict

World's largest coral found near Solomon Islands; as Nearly half of tropical coral species face extinction

TRADE WARS
Tajikistan lost 1,000 glaciers in 3 decades: minister

U.S., Finland and Canada agree to icebreaker collaboration pact

First Antarctic amber discovery opens new window to ancient climate

Was Snowball Earth truly a global event? new study provides strongest evidence yet

TRADE WARS
Defiant Lebanese harvest olives in the shadow of war

Planet expands partnership with Abelio for enhanced digital farming solutions

Nigeria borrows $134 mn to boost farms as famine looms

Economic woes sour prospects for China's dairy farmers

TRADE WARS
Tropical storm Sara kills four in Honduras and Nicaragua

Magnitude 6.6 quake strikes off Papua New Guinea: USGS

Tropical Storm Sara pounds Honduras with heavy rain

Half of flood victims in Spain's Valencia 70 and older as epicentre survives fresh alert

TRADE WARS
UK doubles aid to war-torn Sudan

World not listening to us, laments Kenyan climate scientist at COP29

Madagascar riverbank landslide hits boat, killing 16

French weapons in Sudan 'in violation of UN embargo': Amnesty

TRADE WARS
Study shows ancient use of fire to manage Tasmania's environment 41,600 years ago

12,000-year-old stones might represent early wheel-like technology

Location of ancient ochre mine found in Eswatini

Chimpanzees show improved performance on difficult computer tasks with an audience

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.