China to support new energy vehicle makers to export more cars, accelerate building marketing networks abroad – commerce ministry
STOCKS
China to support new energy vehicle makers to export more cars, accelerate building marketing networks abroad – commerce ministry
STOCKS

China to support new energy vehicle makers to export more cars, accelerate building marketing networks abroad – commerce ministry

 

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China’s Ministry of Commerce will support new energy vehicle manufacturers to export more cars and will work with relevant authorities to help NEV makers to accelerate the building of overseas marketing and after-sales service networks, and enhance branding, Li Fei, an official from the ministry said at a press conference.

Qualified Chinese banks are encouraged to provide related consumer financial products abroad, and regulatory bodies are considering broadening export transportation channels and delivering NEVs via the China-Europe Railway Express, Li said.

The ministry will cooperate with relevant government departments to support cross-border e-commerce platforms, logistics companies, and merchants to build warehouses and the country is expected to add new pilot regions for cross-border shopping and procurement methods soon, Li said.

Import and export companies need to enhance their exchange rate risk management capabilities, as the external environment is becoming increasingly complex, and the number of risk factors affecting the yuan’s foreign exchange rate is increasing, he said.

The commerce ministry, along with the PBOC and the State Administration of Foreign Exchange, will encourage banking institutions to innovate and optimize their products and provide hedging and cross-border clearing services for more SMEs, he added.