Shanghai offers support to export-oriented firms

Shanghai on Friday organized a matchmaking event between foreign trade enterprises in Shanghai and local e-commerce firms to help the former group expand sales in China and better integrate into the nation's economy.

The move marks the city's latest effort to support such businesses amid global trade headwinds such as recent tariff hikes against many countries by the United States.

Sixteen leading domestic e-commerce platforms and nearly 80 export-oriented enterprises based in Shanghai participated in the event.

During the event, e-commerce platforms presented various initiatives. For example, Taobao and Tmall, both under Alibaba, have designated a "foreign trade selection" section, offering a streamlined process for export-oriented merchants to join the platform on the day of registration.

Online retailer Suning.com will implement a self-operated bulk sales model for high-potential products, such as robotic vacuum cleaners, smart coffee machines, wearable devices and pet care items.

On-demand retail service major Meituan said it will help such enterprises facilitate access to both urban and rural consumers, leveraging its advantages in delivery services.

JD has allocated 200 billion yuan ($27.4 billion) toward purchasing commodities originally produced for export, and plans to host business engagement meetings in regions with clusters of export-oriented businesses, according to Lu Zhe, the company's project manager for its export-to-domestic sales initiative.

Shanghai has a reserve of measures to secure the stable operation of foreign trade companies and stabilize employment, Zhu Min, director of the Shanghai Municipal Commission of Commerce, said in a recent media interview.

"As an opening-up center in China, Shanghai should play a bigger role when a new trade environment is taking shape."

The city's effort aligns with the nation's call to boost consumption and expand domestic demand.

China will strengthen countercyclical adjustments and focus its efforts on stabilizing employment and foreign trade, as well as driving consumption and expanding domestic demand, according to the State Council executive meeting chaired by Premier Li Qiang on Friday.

To stabilize the development of foreign trade and foreign investment, the country will roll out tailored measures for specific industries and individual enterprises, offering more robust support, the meeting said.

When policymakers introduce these policies, they must ensure that these measures reach enterprises and the people directly, and that the implementation is carried out in a highly efficient manner to maximize the desired impact, according to the meeting.

In addition, during his investigation and research tour in Beijing on Tuesday, Li called for greater efforts to strengthen domestic circulation and further unleash the vitality and potential of China's ultra-large market to address challenges posed by external shocks.

Li stressed efforts to make good use of existing policies to promote domestic sales of foreign trade goods, further carry out actions to boost consumption, and encourage healthy competition among firms to create new demand with high-quality supply.

Zhou Lan, deputy director of the Shanghai Municipal Commission of Commerce, said that the city will continue to facilitate the entry of premium foreign trade products into local shopping malls, supermarkets, pedestrian streets and commercial zones.

Shanghai Silk Group, which specializes in women's apparel, said that exports accounted for half of the company's total sales, with the US market representing 35 percent of its exports.

"We're considering redirecting products originally destined for the US market to other overseas markets, such as Europe and South America. Purchasers there have expressed interest in procurement," said Shen Dong, vice-president of the company.