Shanxi enterprises set to expand in international markets


Updated: 2023-05-16

Shanxi Department of Commerce recently issued a plan to support enterprises based in North China's Shanxi province in going global and expanding overseas markets in 2023.

Shanxi aims to improve the ability of foreign trade entities to expand international markets and enhance international competitiveness. It will guide local advantageous industrial enterprises to stabilize the market share in the United States, Japan, and Europe, expand the Belt and Road Initiative-related and RCEP market, optimize the export market structure, and promote the digital marketing transformation of foreign trade enterprises. 

In line with these objectives, the province of Shanxi intends to leverage prominent international trade exhibitions to improve the international marketing ability of local enterprises. In addition, the plan encourages enterprises to embrace the potential of cross-border e-commerce operators. Moreover, major industrial chain enterprises will be supported in their efforts to explore and enter the international market. 

As outlined in the plan, Shanxi province is committed to arranging for over 1,000 exhibitors to participate in international fairs, and taking part in 97 international exhibitions during the current year. This concerted effort is expected to yield significant results, including a targeted year-on-year growth rate of 10 percent in exports to countries involved in the Belt and Road Initiative and RCEP. 

Furthermore, the plan aims to establish at least 500 foreign trade enterprises engaged in concrete import and export operations, thus expanding the province's trade network and fostering economic prosperity.