An event on processing trade innovation and regional cooperation was held in
Guangzhou on Oct. 15. MOFCOM official Zhang Li said processing trade remains a
key component of China’s foreign trade and open economy. MOFCOM said
processing-trade innovation made significant gains during the 14th Five-Year
Plan and that through the 15th Five-Year Plan and beyond it will be used to
respond to global supply-chain restructuring, support industrial upgrading,
cultivate new export drivers, advance regional coordination and bolster
employment. MOFCOM will continue to promote processing-trade innovation, aiming
to raise value-chain position, strengthen supply-chain resilience, deepen
regional cooperation, enhance policy management capacity and boost firms’
competitiveness.