Li Yunze: The China Banking and Insurance Regulatory Commission will formulate and implement policy measures to support the development of foreign trade in the banking and insurance industry.

Director Li Yunze of the China Banking and Insurance Regulatory Commission stated today at a press conference organized by the State Council Information Office that, against the backdrop of increased external shocks, we will formulate and implement a series of policy measures to support the development of the banking and insurance industries in facilitating foreign trade. In accordance with the principles of marketization and rule of law, we will continue to increase financial support. Firstly, we will enhance financial relief efforts, expanding the financing coordination mechanism to all foreign trade enterprises and pushing banks to expedite the implementation of various policies to stabilize foreign trade, ensuring that loans are granted when needed and extended when necessary. Tailored services will be provided to market entities facing temporary operating difficulties due to significant tariff impacts. Secondly, efforts will be made to stabilize exports by optimizing export credit insurance supervision policies, increasing underwriting capacity, offering preferential rates, implementing quick claims and pre-claims processes, and boosting the confidence of enterprises in receiving orders and exporting. Financial institutions will be urged to provide quality services in key areas such as cross-border e-commerce and overseas warehouses, support the development of exclusive insurance products, guide banks in offering comprehensive one-stop services, and support the development of new models in foreign trade. Thirdly, support will be provided for expanding domestic sales, strengthening financing guarantees for foreign trade enterprises in transitioning from exports to domestic sales, guiding the establishment of a domestic trade insurance co-insurance mechanism, introducing special products, expanding the coverage and limits of domestic trade insurance, and taking multiple measures to support consumer confidence, stimulate consumption, and boost domestic demand. This will create new sales opportunities for foreign trade enterprises and accelerate the integration of domestic and foreign trade.