The Several Measures of Beijing Municipality on Promoting the Innovative Development of Offshore Trade (hereinafter referred to as the "Several Measures") was recently released to fill the gap of policies related to the offshore trade in Beijing. The purpose of the Several Measures is to improve trade liberalization and facilitation and steadily promote the development of Beijing's offshore trade.

Consisting of 14 measures, the Several Measures aims to release the potential of new patterns of trade based on six aspects. As mentioned in the Several Measures, Beijing will strengthen the coordination of the innovative development of offshore trade, platform building, complementary services, facilitation of settlement and financing, risk prevention, as well as other areas. The Municipality will also enhance the coherence among key projects, significant issues, and special demands.

A new international trade public service platform of the China (Beijing) Pilot Free Trade Zone has also been launched online for trial operation. The platform will, by focusing on the integration of logistics data, generate verification reports regarding the validity of enterprises' trade backgrounds. This will improve the capacity of financial institutions in verifying the offshore trade backgrounds of enterprises and, consequentially, facilitate fund settlement.

(Source: Chinanews.com)