Action taken to ensure foreign trade growth

Yin, from Hubei Kingshan Lighting Electrico, said many of the measures, which are highly detailed, are expected to result in immediate and significant help for foreign trade enterprises facing numerous uncertainties and challenges.

He said measures to accelerate export tax rebates, increase export credit support, and improve export credit insurance, which protects against the risk of orders being canceled before shipment, are important in avoiding financial risks, especially for micro, small and medium-sized enterprises.

Gao Shiwang, director of the industry development department at the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, said enterprises have welcomed measures aimed at helping them improve cash flows and avoid financial risks.

He also stressed that to better cope with challenges and difficulties, foreign trade companies could adopt many measures to improve operations, enhance efficiency and increase profitability.

"Enterprises should pay close attention to external factors such as changes in commodity prices and exchange rates, along with obstructions in supply and industrial chains," he said.

"They should enhance overall operational and management innovations, make better use of hedging tools against fluctuations in commodity prices and exchange rates, accelerate transition toward greener design and manufacturing, and adopt flexible pricing of products and services."

Thanks to supportive government policy measures and enterprises' technological innovation, industry leaders enhanced their global positioning. "Hidden champions"－small but highly successful companies in specialized markets－are also expanding their presence, Gao said.

He added that small and medium-sized enterprises are now able to reach global markets directly through new foreign trade channels such as cross-border e-commerce.