14 Foreign Trade Incentive Measures Issued
- Details
- Category: Ningbo Business
- Published: Monday, 18 June 2012 09:20
Recently, 14 foreign trade policies were issued by the municipal government office in Opinions on the Policies to encourage the Steady Growth of Foreign Trade, with an aim to support local enterprises to further expand the international market. The policies covered several aspects including overseas exhibition, export credit insurance, e-commerce marketing and import and export expanding.
According to the Opinion, the government would offer a maximum grant of 30,000 Yuan and 20,000 Yuan respectively for each standard booth among 40 booths of Ningbo-Singapore Import and Export Commodities Fair and 17 booths of Las Vegas International Garment Fair. It would also provide a certain proportion of financial support for the enterprises participating in major foreign-related exhibitions such as China Import and Export Fair (Benin), Zhejiang Export Fair (Indonesia) and China Export Fair (Hungary). All the small and micro-enterprises to be participated in the overseas exhibitions held after June 2012 will get a maximum grant of 10,000 Yuan more for each standard booth.
According to the Opinion, the leading foreign trade enterprises which deal with production and circulation and contribute much to the local foreign trade and taxes can be given priority accesses to clearance, inspection and quarantine, drawback, land, electricity, credit, human resources and taxes. Meanwhile, an annual award is set for the enterprises having a significant growth in its performance. The e-commerce platform with an annual increase of over 500 new-added foreign trade enterprises will be rewarded and the one with over 1500 will get a maximum grant of 700,000 Yuan.
In order to reduce the trade risk, the export credit insurance was raised to the highest 15% for local enterprises while 20% for import. Among them, the maximum grant for the exports to the EU and Middle East reaches to 25%. The grant for small and micro-enterprises which are newly insured after June 2012 are raised to a maximum amount of 55%. Enterprises which passed the assessment of demonstration pilot of international trade friction qualify for a maximum grant of 150, 000 Yuan. According to the Opinion, special fund was allocated for agencies dealing with small loans, financing guarantees, chattel mortgage regulatory to offer some financing products and intermediary services for small and micro-foreign trade enterprises. The government will give a certain proportion of risk compensation to make up their bad debt.
