People’s Daily reported that, amid the high U.S. tariffs, the Chinese Communist Party (CCP) Politburo (CPC) emphasized the need to accelerate the integration of domestic market and foreign trade at its April 25 meeting. Recently, the General Office of the CCP Central Committee and the General Office of the State Council issued the “Special Action Plan to Boost Consumption,” which proposed the following: “Support foreign trade products in expanding into the domestic market, launch the ‘China Tour of Premium Foreign Trade Products’ campaign, and guide OEM foreign trade enterprises to develop their own brands.”
The Ministry of Commerce launched the “China Tour” campaign in April. By early May it had already generated over 16.7 billion Yuan (US$ 2.3 billion) in intended purchases, attracting more than 2,400 foreign trade enterprises and over 6,500 buyers.
The article listed a few developments:
- In support of foreign trade companies expanding into the domestic market, 15 major e-commerce platforms quickly responded with a comprehensive package of measures, including direct procurement and supply-demand matchmaking.
- JD.com announced a special procurement fund and launched a support program to help exporters pivot to the domestic market.
- Tencent introduced a “zero deposit trial operation” policy across more than 2,600 business categories, allowing merchants to list products without paying a deposit, helping foreign trade firms reduce operating costs.
- Recently, due to inventory build-up and canceled orders, many foreign trade companies have faced increased financial pressure. In response, Fuzhou City, Fujiang Province is working with financial institutions to defer loan repayments or offer no-principal-renewal loans.
According to statistics, among the hundreds of thousands of Chinese enterprises with export performance in 2024, nearly 85 percent are also engaged in domestic sales, with domestic sales accounting for nearly 75 percent of their total revenue.
Source: People’s Daily, May 16, 2025
https://paper.people.com.cn/rmrb/pc/content/202505/16/content_30073573.html