From January to November 2024, North China's Shanxi province's total foreign trade value reached 159.58 billion yuan, a 3.3 percent increase from last year. In the first half of 2024, the province's foreign trade volume surged by 18.7 percent year-on-year, ranking third nationwide in growth rate.

To further develop foreign trade, the Shanxi Provincial Foreign Investment and Foreign Trade Development Association held an industry situation policy report and annual meeting on Jan 8 in Taiyuan.

Officials from the Department of Commerce of Shanxi Province, the Shanxi Provincial Bureau for Market Supervision, and the Shanxi Provincial Tax Service Bureau analyzed the opportunities and challenges facing foreign-funded enterprises and the foreign trade industry from various perspectives. They also provided insights on the tax, customs, financial, and credit insurance policies supporting foreign trade implemented in the province.

To further advance the province's investment promotion efforts, the association will enhance its role as a public service platform for foreign investment. It will host 12 events, such as the China-UK Cooperation Salon and the Green Aviation Fuel Industry Technology Exchange Conference, aiming to comprehensively elevate service standards and support foreign-funded enterprises in reaching new development heights.

The association has also issued the "Shanxi Cross-Border E-commerce RCEP (Regional Comprehensive Economic Partnership) Guide", which helps foreign trade enterprises expand their trade with RCEP and countries involved in the Belt and Road Initiative.