This undated photo shows Gao Feng, spokesperson for China's Ministry of Commerce. (PHOTO PROVIDED TO CHINADAILY.COM.CN)

BEIJING - China pledges more measures to stabilize foreign trade in the face of weakening global demand and rising protectionism, a commerce official said at a press conference on Thursday.

READ MORE: China vows more support for foreign trade

The country will provide financing support to foreign trade firms through various means and further expand export credit to micro, small and medium-sized foreign trade companies

The country will provide financing support to foreign trade firms through various means and further expand export credit to micro, small and medium-sized foreign trade companies in a bid to keep them afloat amid the challenging external environment, said Gao Feng, spokesperson for the Ministry of Commerce.

China will continue to encourage foreign trade firms to tap the domestic market and support the development of new forms of business such as cross-border e-commerce and overseas warehouses to boost the export of micro, small and medium-sized businesses, Gao said.

ALSO READ: China vows support for foreign trade firms amid epidemic

Multi-pronged measures will be taken to stabilize the industrial and supply chains, he said, adding that the country's central, western and northeastern regions are encouraged to take over labor-intensive foreign trade industries. 

China still attractive to foreign companies

Gao also said China remains attractive to foreign companies, as an overwhelming majority of them questioned in a survey have expressed a desire to continue to invest and operate in the country.

Some 99.1 percent of respondents in a recent survey, conducted by the Ministry of Commerce, said their companies' operations in the world's second-largest economy will continue

Some 99.1 percent of respondents in a recent survey, conducted by the Ministry of Commerce, said their companies' operations in the world's second-largest economy will continue, Gao said.

Despite the COVID-19 epidemic, China's business environment has further improved this year with the implementation of foreign investment law and the unveiling of a much shorter negative list, Gao said, adding that the country has also helped foreign-funded companies solve prominent problems such as shortages of anti-epidemic supplies and raw materials.

China will provide more quality services to foreign firms and create a more law-based, internationalized, and convenient business environment, Gao said.

Foreign direct investment into the Chinese mainland, in actual use, fell by 1.3 percent year on year to 472.18 billion yuan (about US$67 billion) in the first half of 2020, with the second quarter registering a 8.4 percent year-on-year growth