PEKIN (Reuters) -Chinese distribution giants have launched initiatives in recent days to help Chinese exporters pivot to the internal market, while the trade war between Washington and Beijing is intensifying.
The Chinese finance ministry announced on Friday that it will be a customs duties on American products imported from April 12, in response to the announcement by Donald Trump from a surcharge of 145% on Chinese goods.
JD.com announced on Friday its intention to launch a fund of 200 billion yuan (24.14 billion euros) to help Chinese exporters to sell their products on the domestic market over the year.
JD.com will send its employees to Chinese companies involved in foreign trade, with a view to buying their “high quality products” directly and will open a space dedicated to the sale of these products on its e-commerce platform, according to a group press release.
In addition, the Freshippo supermarket chain, owned by Alibaba, the main competitor of JD.com, said on Friday that it has opened a fast way to allow exporting companies to explore the domestic market.
Chinese exporting support programs could allow them to partially compensate for their losses due to the drop in international sales by quickly developing their domestic sales, although they will have to face increased competition in a slowdown economy.
Like JD.com, Freshippo will create a special area on its platform where only the products of these companies will be sold. The group, known in Chinese under the name of Hema, said that it will also facilitate exporters’ access to its platform by simplifying registration procedures and will allow them to use its warehouse network.
Earlier in the week, two of the largest operators in Chinese supermarkets, CR Vanguard and Yongui superstores, announced similar support measures for Chinese exporters.
“In the changing global economic landscape and the international trade wars intensifying, countless Chinese companies in the supply chain are fully filled with reluctance to yield and eager suction,” said Yonghui superstores in a statement on Monday.
“When your exports come up against obstacles and you are trying to turn to interior sales, we will open a ‘green channel’ so that your products are found in our shelves within 15 days.”
(Written by Eduardo Baptista; Elena Smirnova; edited by Blandine Hénault and Augustin Turpin)
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