Xiamen issues circular to support local foreign-trade brands
The Xiamen municipal bureau of commerce in East China's Fujian province issued a document on June 15 to cultivate more local foreign-trade brands.
Xiamen will provide financial support to export-oriented enterprises with their own foreign-trade brands. Firms meeting a certain criteria can receive up to 500,000 yuan ($75,000) for their overseas marketing activities. In addition, firms with export business less than $3 million the previous year will also receive subsidies for their insurance premiums.
Firms of this kind will also be able to take part in the domestic foreign-trade brands incubation campaign held by Xiamen's commerce bureau or other institutions authorized by the bureau.
Firms with self-developed brands are encouraged to register on AMOY BRAND, a large website that the Xiamen municipal bureau of commerce developed to help Xiamen local brands to go overseas. Members of the website will benefit from many favorable policies, and their top products will be displayed prominently on the website.
Local enterprises with their own brands that participate in both domestic and foreign brand exhibitions will have their exhibition costs subsidized.
Firms whose products have been widely recognized overseas can apply to become a "growing export-oriented company", which enjoy preferential treatment in import and export credit insurances, financing, international market exploration, tax refunds, customs clearance, and foreign exchange management.
Top local foreign trade brands and products of Xiamen's "growing export-oriented company" will be prioritized in the Canton Fair and a series of other promotional campaigns organized by Xiamen's commerce bureau.
Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.