China to strengthen legal framework, improve export controls

CHINA’S commerce ministry said that its key priorities this year include strengthening legal frameworks, improving export controls and enhancing risk prevention to safeguard supply chain resilience and national security.

China’s focus on improving export control reflects growing concerns over national security, as well as safeguarding critical technologies and sensitive goods from unauthorised transfers. This measure also aligns with global trends to tighten trade compliance and risk management amid increasing geopolitical and supply-chain challenges.

The ministry also plans to boost domestic consumption through measures such as promoting usage of services, upgrading goods consumption, and fostering digital, green, and health-oriented markets, according to a statement posted on the Ministry of Commerce’s website on Sunday (Jan 11) following the annual national commerce work conference.

Efforts will focus on driving trade innovation and advancing the “Export China” and “Invest in China” initiatives. This includes upgrading goods and service trade, attracting foreign investment, and improving open platforms such as free trade zones and the Hainan Free Trade Port. BLOOMBERG