China's Ministry of Commerce to help foreign trade enterprises expand domestic sales

In response to U.S. tariff measures, China's Ministry of Commerce has been ramping up efforts to integrate domestic and foreign trade, assisting foreign trade products in expanding into the domestic market through industry collaboration.

Six major national import-export chambers, including those for mechanical and electrical products, textiles and apparel, light industry and furniture, pharmaceuticals and health-care, mining and chemicals, and food, along with five leading industry and circulation associations, namely China General Chamber of Commerce, China Federation of Logistics and Purchasing, China National Textile and Apparel Council, China Chain Store and Franchise Association, and China Commerce Association For General Merchandise, will jointly release an initiative at the upcoming China International Consumer Goods Fair which is scheduled to open in May.

This initiative is expected to promote high-quality foreign trade goods' sales in China, supporting enterprises in expanding their channels, connecting with brands, and providing them favorable policies and services.

JD.com, a Chinese e-commerce platform, will invest 200 billion yuan in a large-scale procurement initiative to shift export products to the domestic market.

More than 10 e-commerce platforms in China have committed to leveraging their advantages, introducing direct-order procurement, building foreign trade zones, supporting viewer-flow number, opening green channels and supplier-buyer matchmaking, recommending high-quality foreign trade products to Chinese consumers.

Companies like large-scale supermarket chains Yonghui Supermarket, which operates over 900 stores nationwide, issued open letters announcing that they will open green channels for foreign trade enterprises to sell their products domestically.

In the next stage, the Ministry of Commerce will continue the campaign recommending foreign trade products across China, enhancing the confidence and resilience of China's foreign trade players in weathering risks and challenges.

The U.S. dollar strengthened in late trading on Monday.

The dollar index, which measures the greenback against six major peers, went up 0.2 percent to 99.178 at 15:00 (1900 GMT).

In late New York trading, the euro fell to 1.1578 dollars from 1.1606 dollars in the previous session, and the British pound was down to 1.3388 dollars from 1.34 dollars in the previous session.

The U.S. dollar bought 158.33 Japanese yen, higher than 157.74 Japanese yen in the previous session. The U.S. dollar increased to 0.7799 Swiss francs from 0.777 Swiss francs, and it declined to 1.3591 Canadian dollars from 1.3596 Canadian dollars.

The U.S. dollar added to 9.21 Swedish Kronor from 9.1855 Swedish Kronor.