China mulls measures to further support dev't of overseas warehouses

A crane hoists a container at Chengdu International Railway Port in Chengdu, capital of southwest China's Sichuan Province, July 17, 2020. (Xinhua/Liu Kun)

China will take further measures to support the development of overseas warehouses so as to bolster the country's foreign trade, according to a circular issued by China's Ministry of Commerce (MOC) on Tuesday.

The circular outlined that China will launch the second phase of innovation investment fund for service trade in this year to mobilize social capital and other special funds for foreign trade and support new business forms of foreign trade, such as cross-border e-commerce and overseas warehouses.

The circular also noted that export credit insurance agencies will be revitalized to support construction and operation of overseas warehouses in a law-based manner with controllable risks.

More efforts will be made to optimize customs arrangements and increase trips of China-Europe freight trains in a bid to support the transport of exports to overseas warehouses, said the circular.