A splendid aerial view of Xiamen city. [Photo/Xiamen Daily]

Xiamen Municipal Bureau of Commerce, in collaboration with various local governmental departments and financial institutions, has recently introduced a set of policies designed to stabilize the growth of foreign trade and foster its high-quality development. 

These measures aim to address current challenges the city's foreign trade sector is facing. They also aim to lay the groundwork for long-term progress, by nurturing new growth drivers of foreign trade expansion and expanding high-standard opening-up.

Enhanced financial support measures have been put in place to assist small-scale export enterprises with exports of below $8 million. 

What's more, the bureau is fully subsidizing the basic risk premium for policy insurance taken out by the enterprises. Additionally, short-term export credit insurance premiums are supported at a rate of 35 percent, with an additional 15 percent increase for premiums declared by enterprises in the first quarter of 2025.

Financial institutions including such as the Xiamen Branch of the China Development Bank and the Export-Import Bank of China are offering specialized loans to support infrastructure projects, trade cooperation, and more under the framework of the Belt and Road Initiative.

To facilitate overseas participation, subsidies are provided for enterprises attending international exhibitions. The bureau supports various types of exhibitions, offering increased subsidies for key industries and local enterprises. 

In addition, efforts to cultivate new foreign trade dynamics include incentives for the establishment of cross-border e-commerce warehouses and comprehensive service platforms.

Overall, by prioritizing financial assistance, exhibition subsidies, and innovative trade facilitation measures, Xiamen is poised to strengthen its position in the global trade landscape and drive its sustainable economic development forwards.