CCPIT to step up trade facilitation measures in overseas markets

The China Council for the Promotion of International Trade, the country's foreign trade and investment promotion agency, will work with related government bodies to build a new regulatory mechanism with credit as the core this year to ensure the interests and legitimate rights of domestic companies in overseas markets, said senior officials.

It will establish databases of credit records for State-owned enterprises and a number of private companies involved in international trade, improve information sharing and supervision to strengthen their ability to manage, identify and prevent potential risks in other countries.

Lu Pengqi, vice-chairman of CCPIT, said the global economy has undergone restructuring as many parts of the world witness changes due to factors such as technology and new policies. At the same time, many countries are also confronting challenges arising from protectionism and unilateralism, which increase the risks and uncertainties.