China’s State Council calls for integrated development of domestic and foreign trade

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3rd December 2023 – (Beijing) China’s State Council has called for the integrated development of domestic and foreign trade, echoing the country’s broader agenda for high-quality growth. The directive was issued at an executive meeting on Friday, chaired by Premier Li Qiang.

The meeting underscored the importance of recognising and addressing the challenges and blockages in advancing high-quality development. It acknowledged that these hurdles reflected the needs and demands of businesses and the public alike.

The council members were unanimous in their call for individual problem rectification. They underlined the necessity of accelerating the integrated development of domestic and foreign trade, considering it an inherent requirement for constructing a new development model and fostering high-quality growth.

“The country should strive to align with international rules, regulations, management, and standards, improve the business environment, and implement robust fiscal and financial supporting policies to promote the integrated development of domestic and foreign trade,” the meeting concluded.

In a discussion on the draft revision of the Mineral Resources Law, the meeting emphasised the crucial role of mineral resources in a country’s economic and social development. Given the changing landscape, the council agreed on the need for a prompt revision of the law to ensure the development and protection of mineral resources, guaranteeing the security of national strategic resources.

The meeting also addressed the industrialisation of biological breeding. It urged for the refinement and improvement of relevant measures and encouraged the orderly progression of related work under strict supervision and risk control. This move signifies China’s commitment to the responsible and sustainable development of biological breeding industries, aligning with global best practices.