China's Strategic Trade Boost: Unleashing Export Growth Potential

China's cabinet approved new measures to enhance foreign trade, coinciding with the fastest export growth in over two years. The strategies include expanding export credit insurance, advancing cross-border e-commerce, and enhancing trade shipping security, with an emphasis on safeguarding jobs within trade-related firms.

In a bid to fortify its foreign trade sector, China's cabinet has sanctioned a series of measures aimed at sustaining the robust export growth witnessed in October, which marked the fastest increase in over two years, according to state media reports.

The strategic initiatives entail broadening the scope of export credit insurance, fostering developments in cross-border e-commerce, and boosting the nation's trade shipping security capabilities, as reported by state broadcaster CCTV.

Additionally, China plans to ramp up support for trade enterprises to secure employment within the sector, reflecting a broader economic strategy that includes fiscal stimulus to stimulate growth.

(With inputs from agencies.)