Qingdao has announced a series of comprehensive measures to solidify its role as a major player in foreign trade and stimulate economic growth. The newly introduced 14 measures are aimed at supporting businesses in expanding their presence in international markets and reinforcing the city's role as a leading trade hub.

Containers are unloaded at Qingdao Port in Shandong province. [Photo/IC]

The measures focus on five key areas: fostering high-caliber trade entities, improving the quality of foreign trade, developing innovative trade models, enhancing the business environment in foreign trade, and strengthening service support.

A central focus is on nurturing leading international trade supply chain enterprises. The plan encourages these enterprises to invest in both upstream and downstream businesses and expand value-added services such as logistics, warehousing, and finance.

The measures also include support for businesses in exploring international markets. This includes subsidies for booth fees at overseas trade fairs, streamlining travel for business personnel, and offering interest subsidies for importing advanced technology and key components.

Significant efforts are also directed at expanding second-hand vehicle exports. The measures aim to attract and develop potential exporters, expedite export procedures, and offer support for inspection and insurance costs. They also encourage the growth of cross-border e-commerce and the establishment of public overseas warehouses.  

To better facilitate trade, the measures propose advancing the digital and smart transformation of ports and boosting international cargo transport capabilities. Efforts will also be made to improve overall port services and increase direct shipping routes from Qingdao Port to key global markets.

Furthermore, the measures address the need for improved enterprise financing services, the strengthening of export credit insurance, and enhanced risk management for international trade.

By implementing these measures, Qingdao aims to bolster its foreign trade sector, drive economic growth, and position itself as a leading international trading hub.