China’s export-starved regions roll out chartered flights, subsidies to seek out orders

Beijing has asked major economic provinces like Sichuan, Zhejiang, Guangdong and Jiangsu to play a key supporting role in stabilising China’s economy

Provinces have already organised trips to France, Germany and Italy, while also offering subsidies to help with transport and quarantine costs

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Beijing has asked major economic provinces to play a key supporting role in stabilising China’s economy and helping to aid a recovery in the fourth quarter. Photo: AFP

Published: 8:30am, 8 Dec 2022

China’s regional economic powerhouses are chartering flights and offering subsidies to encourage business delegations to travel overseas to attract more export orders and investment to boost local economies as Beijing eases its nationwide zero-Covid policy.

Beijing has asked major economic provinces to play a key supporting role in stabilising China’s economy and helping to aid a recovery in the fourth quarter.

China’s strict zero-Covid policy has already taken a toll on the economy, which grew by just 3 per cent in the first three quarters of the year compared to 8.1 per cent expansion for the whole of 2021.

Sichuan, Zhejiang, Guangdong and Jiangsu have all introduced policies to enable business delegations to travel abroad for the first time in nearly three years.

We hope to release more positive signals to the companies by taking the lead so they will be more confident and willing to take the initiative

Li Lin

Weak overseas demand and the strict zero-Covid policy have combined to reduce orders, highlighted by China’s exports falling by 8.7 per cent in November compared with a year earlier, down from a fall of 0.3 per cent in October, data released on Wednesday showed.