Xiamen companies should take advantage of the Belt and Road Initiative to expand the overseas market, said Li Xiaoping, director of the Foreign Affairs Office in Xiamen, East China's Fujian province.
Li made the remarks during a meeting with founders of Xiamen companies on Oct 29.
He encouraged them to serve the BRI while taking advantage of preferential policies and resources from the central government and companies.
Wen Jianhuai, president of Goldenhome Kitchen, a supplier of integrated kitchen cabinets and custom-made furnishings, said he plans to explore more overseas markets and expressed hope that more resources and government support would be offered to lower the risk of overseas investment.
Li suggested they keep a close eye on policies related to consular protection by the Ministry of Foreign Affairs and try to avoid legal and financial risks in overseas investment.
He promised that the foreign affairs office will continue using its resources in sister cities, partner cities, overseas business associations, and overseas embassies and consulates of Xiamen to benefit local companies.
Statistics from Xiamen Customs show that the city recorded 465.3 billion yuan ($65.8 billion) in imports and exports over the first three quarters of 2019, up 3.9 percent year-on-year.
Imports and exports between Xiamen and ASEAN and EU countries were valued at 77.23 and 65.47 billion yuan, respectively, representing year-on-year increases of 4.2 percent and 7.4 percent. Trade between Xiamen and the US decreased 18.9 percent to 63.53 billion yuan over the same period.
China has launched a new pilot program to allow eligible enterprises greater access to overseas financing in support of green and low-carbon transformation projects, the country's foreign exchange regulator said on Aug 21.
To further streamline the experience, China is expanding tax refund stores, broadening the range of refundable goods, and refining refund procedures, ensuring an efficient and seamless shopping experience for global visitors.
