In order to boost market confidence, the Xiamen Municipal Bureau of Commerce in Xiamen, Southeast China's Fujian province, together with the Xiamen Municipal Bureau of Culture and Tourism and the Xiamen Municipal Bureau of Finance, jointly issued a document detailing a set of measures designed to further advance the city's high-quality commercial development.

The document focuses on five areas — the supply chain, retail industry, foreign trade imports and exports, catering services, and the accommodation industry, introducing 17 specific measures to enhance the commercial sector.

1. Upgrading the Supply Chain

Core supply chain enterprises will be supported in enhancing their competitiveness and sustainable development capabilities. Incentives will be increased in order to encourage retail enterprises to speed up innovation and transformation. The Supply Chain Cooperation Fund will be further optimized and upgraded, and the scale of the fund will be expanded to 30 billion yuan ($4.1 billion), with at least 3 billion yuan allocated to support retail enterprises. Efforts will be made to advance the application of artificial intelligence in the international logistics supply chain sector, with the aim being to boost innovation among companies operating in the sector. 

2. Turning the retail sector into a new driver of consumption

Xiamen aims to attract retail chains and companies to establish headquarters, regional headquarters, and settlement headquarters in the city, further expanding the scale of the city's retail industry. 

Measures will be taken to leverage the long-term bond for trade-in of consumer goods issued by the central government to expand the consumption of home appliances, 3C electronics, and smart home products.

The city will also support the standardized and industrialized development of e-commerce live streaming, and provide subsidies to eligible e-commerce live-streaming industrial parks.

3. Stabilizing Foreign Trade 

Measures will be taken to conduct comprehensive evaluations and provide incentives for high-quality development in foreign trade, with an aim to enhance the competitiveness and sustainable development capabilities of foreign trade enterprises. Incentive policies for high-quality development in cross-border e-commerce will be optimized. Construction of overseas warehouses, consolidation warehouses, and cross-border e-commerce comprehensive service platforms are encouraged to promote rapid growth in cross-border e-commerce. The city will support the development of sea freight parcels to Taiwan and the establishment of a cross-border e-commerce consolidation center for Taiwan.

Efforts will be made to increase the number of leading enterprises in integrated domestic and foreign trade, nurture independent foreign trade brands, and help specialized enterprises focused on domestic sales to explore international markets.

The city will also support enterprises in expanding their presence in both domestic and international markets. Support will be enhanced for enterprises looking to explore emerging markets, with a 10 percent increase in subsidies to be provided for enterprises participating in national exhibitions of countries involved in the Belt and Road Initiative, and a 40 percent subsidy, with the amount not exceeding three million yuan, to be provided for enterprises insuring domestic trade credit insurance. Enterprises are encouraged to use export credit insurance.

4. Stimulating Catering Consumption

The city will support the growth of the commerce, circulation, and service industries, as well as encourage time-honored catering enterprises, including Michelin-starred restaurants, to create new promotional applications to increase revenue. Leveraging the "food +" initiative, the city aims to drive the integrated development of the catering, cultural tourism, health, elderly care, and childcare industries.

5. Advancing High-Quality Accommodation

Travel agencies are encouraged to arrange for tourists to visit Xiamen, with rewards to be provided if travelers stay one night or longer. Accommodation consumption vouchers will be issued. Efforts will be made to attract more conference, exhibition, and other brand events. Incentives will be given to accommodation enterprises to promote the growth of the accommodation industry.