As overseas trade faces growing uncertainties, China will implement more policies to assist exporters and importers, according to a meeting of the state council, or cabinet, chaired by Premier Li Keqiang.

China's remarkably resilient trade performance this year has offered a critical buffer to the economy's slowing, but analysts predict exports to suffer significant pressure in the coming months as the COVID-19 outbreak eases. As global lockdowns ease and people spend more on services, demand for Chinese goods is projected to decline.

China's Premier Li: ready to take all necessary measures to support the  economy

According to the State Council, authorities would increase support for the trade sector, including implementing previously flagged tax and fee reduction and accelerating export tax rebates. China's Premier Li Keqiang stated in November that the country is looking into a new combination of tax and fee reductions to assist small businesses.

The yuan exchange rate will be kept relatively stable, and banks will be encouraged to execute forward market deals to help exporters better manage currency fluctuations risks, it said.

Behind the rosy headline figures, Chinese exporters have been battling with dwindling profit margins as the Chinese yuan strengthens, raw material prices rise, and logistics costs grow.

The government will also take steps to reduce stress in the international logistics industry by cracking down on illegal fee charges and unreasonable pricing increases, it added.