Shenzhen announces measures to support manufacturing and boost cross-border e-commerce

On February 20, Shenzhen announced 24 measures to promote steady growth of its foreign trade. The measures are set to expand the export of advanced manufacturing and facilitate enterprises expand overseas markets.

Based on these measures, Shenzhen plans to expand the vehicle exports and auto parts exports. It will make greater efforts to attract automobile manufacturers and dealers to build a global automobile sales and export center. The city will also cultivate a complete upstream and downstream supporting service system for the export of second-hand cars, covering trading, maintenance, and testing, in order to steadily expand the export of second-hand cars.

The measures support internationally-renowned consumer goods, brand enterprises, and supply chain service enterprises to set up regional headquarters, functional headquarters, and independent legal institutions in Shenzhen. They also support headquarters with import functions such as regional headquarters of multinational companies and headquarters of private enterprises to settle in Qianhai.

Data show that in 2023, Shenzhen's foreign trade reached 3.87 trillion RMB, a year-on-year increase of 5.9%. This ranked second among Chinese mainland cities. Specifically, the export volume reached 2.46 trillion RMB, an increase of 12.5%, ranking first among Chinese mainland cities for 31 consecutive years.

(cnbayarea.org.cn & GDToday)