Major export-oriented provinces and cities across China have stepped up efforts to help foreign trade enterprises shift to the domestic market with support policies and business events, amid the global trade turmoil brought about by the recent tariff abuse by the U.S. administration.
Aiming to help foreign trade companies seek opportunities amid the global trade turmoil, China's Ministry of Commerce launched the "Premium Exports Homebound" initiative at the fifth China International Consumer Products Expo (CICPE) earlier in April.
As part of the national effort, the Shanghai municipal government held a business matchmaking event, bringing together over 80 representatives from foreign trade companies and over 20 from local malls and supermarkets. All participants showed great enthusiasm and were geared up to seek cooperation opportunities. "We can promote your products in shopping malls that relatively well match your products, at our home goods sections, or even temporary promotional display floats. We can provide faster help in this way," a representative from a local mall said.
The event provides a much-needed platform for both sides to better understand each other. After clarified the exporters' business models and current needs, local mall enterprises would offer detailed and practical measures to provide help, including providing subsidies for export companies to move in, and rolling out fast-track policies to add the export products onto the store shelves.
"This is a tremendous support. It really boosts our confidence. It also strengthens our company's vitality in research and development and allows us to focus more of our product on the domestic market," said Wang Jiagang, a foreign trade company representative.
In Hefei City of east China's Anhui Province, local supermarkets have set up special sections for domestic sales of foreign trade products. With their premium quality, the products are much favored by local residents.
"They said that the products taste good, so I am here again. The products are quite novel for us consumers, and I think they are definitely worth trying," said a local resident at a supermarket.
In addition, Hefei has also partnered with e-commerce platforms to bridge exporters with domestic customers, helping foreign trade companies fast-track their transition and bring their quality products to the domestic market.
China's premium export products on fast track into domestic market amid global trade turmoil
China will strengthen fiscal and financial coordination to amplify policy effectiveness, experts said as the draft central and local budgets for 2026 were unveiled on Friday at the ongoing fourth session of the 14th National People's Congress.
According to the draft central and local budgets for 2026, 1.3 trillion yuan (190 billion U.S. dollars) of ultra-long special treasury bonds will be issued to provide continued support for the implementation of major national strategies and security capacity-building in key areas and for large-scale equipment upgrades and consumer goods trade-in programs.
Ultra-long special treasury bonds totaling 800 billion yuan will be allocated to support the implementation of major national strategies and security capacity-building in key areas, and 250 billion yuan in ultra-long special treasury bonds will be earmarked for consumer goods trade-in programs.
The country will refine these programs in terms of their scope and subsidy standards, and continue to support the scrapping and replacement of automobiles, home appliance trade-in schemes, and purchases of new digital and smart products.
China will also set up a 100-billion-yuan fiscal-financial coordination fund to boost domestic demand. The fund will support consumption and private investment through loan interest subsidies, financing guarantee, and risk compensation.
"Fiscal and monetary policies are the two major macroeconomic tools for macro-control, and their coordination is crucial. For instance, fiscal funds primarily serve as a guiding role, while financial institutions provide the capital. When fiscal guidance and financial resources are combined, the synergistic effect creates a result greater than the sum of its parts," said Yang Zhiyong, director of the Chinese Academy of Fiscal Sciences.
"By leveraging interest subsidies, we can mobilize substantial credit from financial institutions, thereby naturally stimulating consumption. The Ministry of Finance, in collaboration with the People's Bank of China, has introduced highly innovative measures, such as providing guarantees for the issuance of corporate bonds by small and medium-sized enterprises (SMEs), and compensating investors for losses. I believe the leveraging effect, making minimal efforts for maximum results, will become even more potent," said Yao Dongmin, director of the Center for China Fiscal Development under the Central University of Finance and Economics.
China's top legislature opened its annual session on Thursday morning at the Great Hall of the People in Beijing, with Chinese President Xi Jinping and other Party and state leaders attending the opening meeting alongside more than 2,700 NPC deputies. This year's NPC session is scheduled to run till March 12.
China to strengthen fiscal, financial coordination to amplify policy effectiveness: experts
