Support given to firms in developing domestic markets

This year’s China Import and Export Fair is of greater significance for export-oriented companies as many of them were affected by the COVID-19 pandemic and intend to shift their focus to developing domestic markets, experts said.

The fair has designed a series of matchmaking activities for these companies to help them seize the opportunities brought by China’s dual-circulation development paradigm.

Proposed by the central leadership, the dual-circulation development pattern emerged as the overriding economic theme of the fair.

Innovation, opening-up and the need to boost domestic demand have been identified as priorities during the 14th Five-Year Plan (2021-25).

It sees domestic circulation as the mainstay and domestic and international circulations reinforcing each other.

Under the guidance of the general office of the State Council, commercial departments in many provinces have issued policies and measures to serve companies attending the fair to sell their exportable goods in home markets.

In South China’s Guangdong province, Huizhou, Zhongshan and other cities have released policies about strengthening technical support and simplifying business tax procedures to help companies develop domestic markets.

Fujian province in East China has issued nine decisions, which include ensuring domestic and export products have the same production standards and qualities, and enhancing intellectual property rights protection.