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Commerce Department's and China Export-Import Bank's views on financial support to the development of trade in services during the 12th Five-Year

2014-04-23 10:53:25

Issued by: Commerce Department and Export-Import Bank of China

Released document number: providers serving UNCTAD No. 86 in 2012
Provinces, autonomous regions, municipalities directly under the Central Government, separately planning cities, Competent department of commerce of Xinjiang Production and Construction Corps and the Export-Import Bank of China business institutions.

In order to implement "The 12th Five-Year Plan for National Economic and Social Development" and "The development of trade in services "12th Five-Year Plan" (providers serving UNCTAD No. 340 in 2011), to energetically develop service trade, to speed up the transformation of foreign trade development mode, to increase financial support for China's service trade, to support for training of key enterprises and projects of a number of international competitiveness of trade in services, to make the national trade in services develop healthily and rapidly, now we give some suggestions on the development of trade in services supported by the use of financial support as follows:

The first, guiding ideology

Taking Deng Xiaoping Theory and "Three Represents" as guidance, in accordance with the requirements of the scientific concept of development to support the field of trade in services ,we will focus on the development direction to support key enterprises and projects of the field of trade in services as a means to give full play in the financial trade in services in the promotion of leverage the development process, expansion of key industries and exports of services, speed up the service trade enterprises "going out" the pace of advancing the field of trade in services innovation, and promote the healthy and rapid development of trade in services.

The second, the basic principles .

According to the principle "sector organizations, independent bank loan approval", the Commerce Department and Export-Import Bank of China (short for the Export-Import Bank in the following) give full play to the advantage of the policy of the Ministry of Commerce and local competent commercial administrations and organizational advantages, as well as Import and Export Bank's business units market advantage and financial advantage. They are both building financial support for the development of service trade cooperation platform so as to support for the development of trade in services.

The third, the main task

In the "12th Five-Year" period, the Ministry of Commerce and the Export-Import Bank using the financial means, make great effort to support the development of 30 clear key fields of trade in services, which can consolidate our traditional areas of comparative advantage, nurture the emerging field of the development trend of international trade in services and support to lead the development of trade in services of high-tech, high value-added, innovative and strong radiation areas which play a leading role.
a. Accelerate the R & D, intellectual property, inspection and testing, scientific and technological achievements, the development of IT, digital content, e-commerce, biotechnology and other high-tech trade in services. Focus on cultivating communications, finance, accounting, media, consulting, technology, international freight forwarding, exhibitions, software and high value-added modern service industry.
b. Actively promote the development of trade in services, such as Chinese characteristics, Chinese food, medicine, education, sports, arts and culture, radio, television, press, publishing, animation, and online games. Expand overseas marketing channels and actively explore the international market.
c. Continue to consolidate the traditional development of trade in services, transportation, tourism, construction, foreign contracted projects and labor cooperation with the scale advantages to promote the enterprises to develop overseas investment activities in support of direct investment and local management of trade in services in developing countries, and actively explore the developed countries and the relevant market.
d. Accelerate the development of service outsourcing. Encourage the development of high knowledge content, high value-added, innovative IT outsourcing, business process outsourcing and knowledge process outsourcing. Consolidate and improve the software, the field of information and communication infrastructure, finance, communications, pharmaceutical R & D service outsourcing, the key breakthrough in cultural and creative, manufacturing, business services, logistics and other services in the field of outsourcing, and actively cultivate the areas of medical, public services, education and distribution of services outsourcing.
e. Focus on promoting and supporting strategic emerging industries of energy saving and environmental protection, technology of a new generation, new energy, biotechnology, high-end equipment manufacturing, new materials and new energy automobile trade in services, to promote the upgrading of industrial structure, and cultivate strong industry cluster.

The fourth, the supported type 
a. Export enterprises and projects, especially supporting those focused on supporting the development of trade in services.
b. Export enterprises and projects, including technical renovation projects to promote service trade enterprises to upgrade key technologies and major equipment import items.
c. Fixed asset investment projects, which are implemented to enhance the level and quality of the domestic service industry and improve the competitive advantage of China's service trade, overseas investment projects as well as to drive the rapid growth of trade in services platform class and demonstration projects.
d. Other service trade enterprises and projects, which are the key recommendation of the competent department of commerce in line with the Export-Import Bank credit policies.

The fifth, the means of support
a. The development of credit products. Export-Import Bank in line with the principle of an independent loan approval supports the development of service trade enterprises ,which is based on the active use of trade in services launching a trading platform for the construction loan, the international logistics infrastructure loans,
trade loans of international logistics and transport services, cultural products and services (including animation) export credit, tourism cultural internationalization of loans, the international Convention and Exhibition services facility construction loans, overseas investment loans, high-tech products (including software) export seller's credit, import credit, loans of foreign contracted projects, the export base construction loan and other credit products, based on service trade enterprises’ actual needs of actively developing innovative financial products and services.
b. Developing intermediary business. Export-Import Bank provides intermediate business services, including international settlement, foreign exchange, trade finance, external security and bond underwriting to enterprises and promotes service trade, the RMB settlement and financing work ,in accordance with various types of risk that the "going out" service trade enterprises is facing , risk management initiative to provide exchange rate risk aversion and consulting services, in order to achieve safe and effective configuration of enterprise funds.
c. Innovative way of security. Under the premise of risk prevention, the Export-Import Bank actively explores the equity, stocks, bonds, stock, warehouse receipts, insurance policies, export tax rebates, accounts receivable and intellectual property pledged by professional security agencies to provide third-party guarantee portfolio by way of security and actively builds the service trade enterprises, especially small and medium-sized service trade enterprises and financing platform to improve the ability of the security for financing of trade in services enterprises.
d. A set of completed services. Export-Import Bank seriously studies the government to promote the development of relevant policies and trade in services, the timely release of the credit policy of trade in services and optimization in the case of controllable risk loan approval process and improves the efficiency of loan approval to further strengthen the human, information, statistics, accounting and technology investment of resources. Make great efforts to build a support system of the Bank to support the development of trade in services.

The sixth, the safeguards
a. To establish a coordinated leadership mechanism. Ministry of Commerce and Export-Import Bank establish Financial Support Services Trade Development Coordinating Leading Group (hereinafter referred to as the Coordinating Leading Group), which is co-chaired by the responsible comrades of the Ministry of Commerce and the Export-Import Bank and they have overall responsibility for the financial support for trade in services. They have the responsibility to coordinate the specific work of the Leading Group, having a coordinated office which is made up of the Commerce Department trade in services and commercial services Division and Export-Import Bank Business's Development and Innovation Department. Branch of the local competent commercial departments and the Export-Import Bank should strengthen communication and coordination, research supporting policies, and complement the implementation of the organization of work to create a favorable policy environment for the development of trade in services.
b. To organize enterprises and recommend projects. 
Local competent commercial departments in conjunction with the Export-Import Bank branch on a regular basis to the Ministry of Commerce declare the area of trade in services with a certain scale, with a strong international competitiveness, economic and social benefits of the more prominent enterprises and projects. The Commerce Department organizes experts to declare the enterprise and project review, and report regularly to the Export-Import Bank to provide the service trade key enterprises and projects recommended list.
c. To enhance information sharing.
Competent commercial departments at all levels strengthen the exchanges and cooperation with the enterprises in the industrial policy, development planning, country risk, international market information, business and project information.
d. To carry out the construction of integrity.
The local competent commercial administrations with the Export-Import Bank conscientiously improve trade in services and corporate finance capabilities to help enterprises solve financing development problem in doing a credit to the enterprises and projects before the survey, evaluation, feasibility studies, loan approval and post-loan management work.

Hope that every unit study earnestly and actively implement the above.
Please contact with the Ministry of Commerce and Export-Import Bank for more details.

Yours,
Ministry of Commerce of the People's Republic of China
Export-Import Bank of China