On February 5, Hangzhou Municipal Bureau of Commerce announced ten plans to provide financial and service support for local key manufacturers to expand their international markets.
First, to encourage enterprises to participate in international exhibitions, booth fees and air tickets for business trips will be subsidized.
Next, to facilitate the handling of exit and entry documents, a special service window for passport application will be open and the formalities will be completed within 5 days.
In addition, to optimize logistics services, additional international cargo routes and airport green channels for off-site cargo terminals will be open.
To resolve the risk of receiving international orders, export credit insurance and green channels for claims settlement will be available, and the proportion of premium subsidies will be increased. At the same time, financing costs will be reduced, and financial guarantee institutions will be encouraged to provide guarantees for enterprises’ trade financing.
In terms of cross-border trade, customs clearance facilitation initiatives such as early declaration and reduced tariff costs will be provided.
Finally, an enterprise service coordination mechanism will be established. Hangzhou Municipal Bureau of Commerce will take the lead and various departments will cooperate to provide all-round support for local enterprises to go abroad.