Chinese officials say 40% of foreign trade enterprises have started to do “export to domestic sales.”

Chinese government officials said Thursday that many Chinese foreign trade enterprises have begun to operate “export to domestic sales”.

Under the influence of multiple factors such as the new crown epidemic and the U.S.-China trade war, Li Xingqian, director general of foreign trade at China’s Ministry of Commerce, said the results of more than 4,000 questionnaires showed that more than 40 percent of Chinese foreign trade enterprises have started the “export to domestic sales” business.

He also said at the briefing held by the State Council Information Office, these began to do “export to domestic sales” enterprises are facing a variety of challenges such as cultivating the domestic market, brand promotion, business team building.

Interestingly, on Wednesday evening, China’s Vice Premier Han Zengzheng attended an event to reiterate that the “double cycle” in the “14th Five-Year Plan” is not “to engage in closed domestic cycle”. “Rather, it is expanding its opening to the outside world. Nonetheless, there are still some opinions that this is the Chinese government’s way of preparing for decoupling from the United States and other Western economies.