Preferential policies boost Guizhou's foreign trade growth

Southwest China's Guizhou province has provided targeted services for foreign trade and foreign-invested companies since the beginning of this year, achieving a total import-export volume of 25.29 billion yuan ($3.64 billion) from January to July.

Statistics show that during that period, the province's import volume was 4.35 billion yuan, a year-on-year decrease of 37.5 percent. Meanwhile, Guizhou's export volume reached 20.94 billion yuan, a year-on-year increase of 24.5 percent and the second-highest growth rate in China.

To combat the impact of the novel coronavirus epidemic, Guizhou has encouraged foreign trade companies and foreign-invested enterprises to resume work and has provided logistics and financing support.

The Guizhou Provincial Department of Commerce has actively communicated with foreign trade companies to learn about the difficulties they are facing and launched over 30 preferential policies, such as encouraging the export of epidemic prevention materials.

Through these efforts, Guizhou's 21 epidemic prevention material production companies have been listed on the Ministry of Commerce's export white list, contributing an export volume of 82.29 million yuan.

Also, to solve the problem of financing, Guizhou created fund pools to provide no-asset mortgage guarantees and risk loss compensation for companies.