Hu Chunhua, a member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, stressed that new business forms and models are new drivers and important directions of foreign trade development and play an important role in stabilizing the overall situation of foreign trade and promoting transformation and upgrading.

We will create sound infrastructure for the development of new forms and models of foreign trade, keep pace with the development trend of new technologies in big data, artificial intelligence, 5G and other fields, and support the development of smart logistics, warehousing and data transmission.

We will actively yet prudently innovate regulatory models and promote the establishment of a regulatory system suited to new business forms and models.

We should actively strengthen tax, financial and foreign exchange support for new forms and models of business, including offshore trade, bonded maintenance, cross-border e-commerce, comprehensive foreign trade services, and market procurement trade, and encourage their faster development and growth.