Ministry, CCB team up to bolster foreign trade

The Ministry of Commerce and China Construction Bank will jointly come up with measures to help firms overcome the novel coronavirus challenges and stabilize the country's foreign trade. The ministry will strengthen information-sharing with CCB, one of the country's largest State-owned commercial banks, and support its use of fintech to provide better financial services for enterprises, according to an announcement on the ministry website. The bank will step up credit support, expand policy financing, and offer services like cross-border matchmaking and digital exhibitions to foreign trade and foreign-invested firms.

Overseas business rises 5.7% in Hebei

The total foreign trade value of North China's Hebei province reached 155.69 billion yuan ($22 billion) in the first five months of this year, up 5.7 percent on a yearly basis, local authorities said. The province's exports declined 2.7 percent on a yearly basis to 87.45 billion yuan from January to May, while imports rose 18.8 percent year-on-year to 68.24 billion yuan in this period, according to Shijiazhuang Customs. Its trade with the Association of Southeast Asian Nations surged by 48 percent, and that with Brazil by 39.7 percent.

Xinhua