China's Cabinet: Will step up policy support for foreign trade and foreign investment

China will step up policy support for foreign trade and foreign investment and encourage foreign firms to set up research and development centres in China, the Chinese state media reported on Wednesday, citing a statement from China's cabinet.

"China will expand export credit to smaller foreign trade companies," China's cabinet added. "China will provide financial support for key foreign-funded firms."

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, S&P 500 futures were up 0.66% on a daily basis.