|Foreign Trade Bases in Jinhua|
The Ministry of Commerce of the People’s Republic of China recently released a list of newly recognized national foreign trade transformation and upgrading bases in 2020. The bases of Jinhua (for motorcycles and auto parts), Lanxi (for denim), and Dongyang Magnetic Electronic Module High-Tech Industrial Park (for new materials) were on the list.
A national foreign trade transformation and upgrading base is an industrial cluster integrating production and export, which is supported and developed by the state. Constructing national foreign trade transformation and upgrading bases is an effective way to develop technologies, establish standards, build brands, and improve quality and services. It is also an important measure to stabilize and smooth out the industrial supply chains, promote foreign trade, and accelerate the transformation and upgrading of industries.
Since 2018, the Ministry of Commerce has recognized the national foreign trade transformation and upgrading bases of Yiwu (for clothing), Yongkang (for kitchen supplies), and Wuyi (for kitchen supplies). With the three newly recognized bases in 2020, Jinhua has increased the number of national foreign trade transformation and upgrading bases and expanded its influence. (Translated by Jin Haiqiong, edited by Kendra Fiddler)