Beijing (Reuters) – Retail Giants in China has launched initiatives in recent days to help Chinese exporters turn to the domestic market as the US and the Asian country trade war intensifies.
Beijing increased their prices on US imports on Friday to 125%Revive US President Donald Trump’s decision to increase Chinese products to 145%.
Chinese e-commerce giant JD.com said on Friday that she will launch a $ 200 billion Yuan fund ($ 27.35 billion) to help the country’s exporters sell their products in the domestic market next year.
JD.com said it would send employees to Chinese companies involved in foreign trade, buy direct “high quality products” and create a special area on their e -trade platform to sell these products and direct traffic and marketing support to this area.
Separately, Supermarket Network, which is owned by Rival Alibaba, JD.com, said that it has paved a quick way for exporting companies to explore the domestic market.
Chinese export support programs can help them recover some of their losses as a result of reduced foreign sales, start or rapidly increase sales in the domestic market, even if they are facing intensive competition in a unmathing economy.
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Like jd.com, Freshippo will create a special zone on its platform, where only the products from these companies will be sold. The company said that it will also facilitate exporters to enter its platform, simplify registration and will enable these exporters to use the company’s deposit network.
Earlier this week, two of China’s largest supermarket operators, CR Vanguard and Superstores Yonghui, announced similar support measures for Chinese exporters.
“In the midst of the change in the global economic scenario and the intensification of commercial war, several Chinese supply chain companies are ambitions and are not willing to give up,” Yonghui told a statement on Monday.
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“When your exports meet blockages and you are trying to switch to domestic sales, we will open a” green channel “to put your products in our shelves within 15 days,” added the company.