BEIJING (Reuters] -China will implement more policies in order to support exporters and investors as foreign trade is facing growing uncertainties. The official Xinhua news agency stated on Thursday that the country’s state council or cabinet met. Premier Li Keqiang was the chairperson.

China’s remarkablely resilient trade performance in this year’s Chinese economic slowdown has been a key buffer. However, analysts anticipate that exports will be under pressure as the COVID-19 pandemic subsides. As global lockdowns loosen and consumers spend more on services, demand for Chinese goods will fall.

According to the State Council, authorities will intensify their support of the trade sector. They will implement previously raised tax and fees cuts as well as accelerate the export tax rebates. China has been discussing a new mix of tax and fee reductions to assist small businesses, Premier Li Keqiang announced in November.

To help foreigners cope better with fluctuations in currency risk, the government will keep the yuan exchange rates stable. Banks are encouraged to do forward-market transactions to maintain stability.

Chinese exporters are struggling to make ends meet despite the headlines. The Chinese currency appreciation, rising raw material prices, and increased logistics costs have all led to shrinking profit margins.

It also stated that the government would take steps to reduce stress on the international logistics markets as it clamps down against illegal fees charges and excessive price increases.