Urgent Chinese support for exporters in light of the new Trump fees

China has promised to use its enormous market to help businesses face ‘external shocks’, in an indication of officials’ zeal to ensure the ability of exporters to pass the trade conflict with the United States. “The local Chinese market is a strong support for companies working in foreign trade,” the Chinese Ministry of Trade said in a statement released on Friday, after a meeting in Beijing was attended by Deputy Minister Shang Cyu Bing. The ministry has drawn attention to the need to “better use the benefits of the market”, as well as “stimulate the balance between the stability of foreign trade and the expansion of consumption”. This meeting comes at a time in which large e -commerce platforms such as “JD.com”, “Alibaba Group Holding” and “Tincent Holdings” on programs aimed at helping to expand Chinese export companies within the local market. JDC said it will buy products from exporters next year at a value of at least 200 billion yuan ($ 27.4 billion) to market it locally. Compensation for the decline in demand in America, but the transfer of Chinese consumers to compensate for the decline in US demand, seems to be a difficult task in light of the fragility of business confidence and consumers, with a poor job market that is very pressure to reduce spending. In addition, in some sectors, surplus production set fire to severe price competition, which increased the deflationary pressure on the economy. You may also be interested in: Chinese businesses: Trump fees will not stop our progress in the aluminum market. The Ministry of Commerce announced earlier that it will support the cooperation of operational associations, large stores and e -commerce platforms with exporters to help them overcome challenges. In this context, the ministry on Sunday launched a campaign in the Southern Heinan Province to improve the local sales of goods prepared for export. The campaign contains commercial groups in sectors such as mechanical and electrical products, textiles, foods, minerals, precious minerals, chemicals and healthcare. The ministry has indicated that it intends to expand the initiative to include ten other provinces. A number of Chinese exporters also made use of social media platforms to announce significant discounts on products that were originally made for exports, pointing out that the share is accumulating after US buyers canceled their requests.