NETDA takes steps to bolster foreign trade growth

A view of a warehouse of Canda Supply Chain Management Co Ltd, based in the Nantong Economic and Technological Development Area (NETDA), East China's Jiangsu province. [Photo provided to NETDA] 

Imports and exports in the Nantong Economic and Technological Development Area (NETDA) in East China's Jiangsu province from January to July were worth 40.73 billion yuan ($5.94 billion), a year-on-year increase of 38.1 percent, official statistics show. 

One of the reasons behind the increase is the series of measures NETDA has rolled out to help foreign trade enterprises weather the challenges brought about by the COVID-19 pandemic. 

For example, authorities in NETDA have established a whitelist system to ensure the supply of key materials for its 90 major enterprises. 

Authorities have also set up a special team responsible for the operations of freight carriers to help stabilize the industrial and supply chains. 

Nantong Xingchen Synthetic Material Co Ltd, a five-star company in NETDA, is one of the enterprises that have benefitted from the measures. Its exports saw a year-on-year increase of 42 percent in the first seven months of this year, according to a company representative. 

Authorities will unveil new measures to bolster foreign trade growth in the second half of this year. For example, they will establish a one-on-one service system to provide better services for foreign trade enterprises. More financial support will be provided to small and medium-sized foreign trade companies. 

In addition, authorities will take advantage of the comprehensive bonded area to expand cross-border e-commerce and strengthen coordination with customs to roll out new measures to speed up the clearance process.