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Xiamen issued “Four Measures” for benefiting enterprises in foreign trade to help foreign trade and international exhibition enterprises tide over the difficulties

In order to support foreign trade enterprises to tide over the difficulties, Xiamen continued to strengthen support, and studied and issued the Implementation Plan for Coping with the COVID-19 Outbreak and Supporting the Development of Foreign Trade Enterprises.

I. Lowering policy insurance rates

For the import of anti-epidemic medical materials, the average rate of credit insurance will be reduced by not less than 50% on the basis of the benchmark rate, and credit investigation and credit assessment services will be provided for relevant enterprises free of charge. The basic risk insurance policy rate for small-sized enterprises will be reduced by not less than 20%. The claim settlement process will be optimized, and claims on demand will be implemented or a simple claim settlement procedure will be started for all enterprises affected by the epidemic.

II. Increasing financial support

In accordance with the provisions of Document No. 4 [2020] of Xiamen Office, we should increase credit support for foreign trade enterprises and actively help enterprises cope with short-term liquidity difficulties. The Export-Import Bank of China Xiamen Branch increased a credit line of 10 billion yuan to support Xiamen enterprises, mainly covering medical care and livelihood material import enterprises, enterprises greatly affected by the epidemic and key foreign trade enterprises, among which the special credit line of 1 billion yuan will be arranged in the first batch. During the period affected by the epidemic, “one policy for one client” was adopted for enterprises in difficulty, such as adjusting repayment schedule, renewing loan extension, lowering rates and other relief measures. China Development Bank Xiamen Branch and the Export-Import Bank of China Xiamen Branch both arranged special credit lines of 500 million yuan for small and micro-sized enterprises, and increased preferential loans to small and micro-sized enterprises through on-lending by commercial banks.

III. Improving the support for expanding the international market

The annual support quota for small and medium-sized foreign trade enterprises is 200,000 yuan, and the quota subsidy standard for overseas exhibition booth fees is 22,000 yuan and 27,000 yuan. During the period affected by the epidemic, enterprises whose overseas exhibitions are cancelled or whose entry is restricted by the country (region) where the exhibition is held, and whose booth fees are non-refundable when unable to participate in the exhibition, shall still be subsidized according to the quota subsidy standard of the exhibition, up to the maximum of the booth fee lost by the enterprise. Enterprises are supported to use e-commerce platform for promotion, and the quota subsidy standard for a single platform rises by 10%. The declaration for cashing funds has been changed from the original “centralized acceptance, batch examination and allocation” to “real-time declaration, perennial acceptance, batch examination and allocation”.

IV. Strengthening early warning and legal aid

For enterprises’ cost increased for inspection and quarantine measures approved by the importing country as a result of the temporary restrictions on the export of food, animal and plant products, etc. of China due to the epidemic, a 50% subsidy will be given, with a cap of 100,000 yuan for a single enterprise. We will establish a green channel for force majeure certification, and actively help enterprises to handle factual proofs related to force majeure in case they are unable to perform or fail to perform international trade contracts as scheduled due to the impact of the epidemic. For enterprises’ attorney fees such as litigation and arbitration fee arising due to the impact of the epidemic, 50% subsidy will be given, with a cap of 200,000 yuan for a single enterprise.

The Implementation Plan shall be executed from January 1, 2020 to June 30, 2020. If it is otherwise stipulated by the state, the provinces and the municipalities, the higher standard shall be implemented without repetition.

Guided by: Xiamen Municipal Bureau of Convention and Exhibition   Sponsor: Xiamen Convention and Exhibition Association
Phone:86-592-5959353\2213713   Fax:86-592-2213716   E-mail:xmcea3@163.com
Technology: Xiamen Economic and Trade Information Center