The Shanghai Free Trade Zone (FTZ) yesterday announced the setting up of a service center to help companies break down technical barriers to trade with countries participating in the Belt and Road Initiative.

The service center will have eight functions, including rating the quality and credit of companies from countries and regions participating in the initiative. It will also provide information on ports in these countries and regions and on their customs procedures and technical regulations.

About 40% of Chinese companies have suffered technical barriers to trade when going global. Most of them are unfamiliar with the technical requirements of foreign markets, according to Wang Lizhou, an official with the General Administration of Quality Supervision, Inspection and Quarantine.

Wang noted that setting up the service center aims at guiding and helping our exporters to break down these technical barriers and to smoothly enter the overseas market of countries and regions participating in the initiative.

In addition, the Shanghai FTZ will serve the initiative from many other aspects including supporting the establishment of the overseas investment services platform, strengthening the Belt and Road financial services function and talent exchange and cooperation, according to the Shanghai FTZ Administration.