1. To formulate development strategies, guidelines and policies of domestic and foreign trade and international economic cooperation, draft laws and regulations governing domestic and foreign trade, economic cooperation and foreign investment, devise implementation rules and regulations. To study and put forward proposals on harmonizing domestic legislations on trade and economic affairs as well as bringing Chinese economic and trade laws into conformity with multilateral and bilateral treaties and agreements.

2. To formulate development plans for domestic trade, study on and put forth proposals on reforming the commercial distribution system, foster and develop urban and rural markets, promote the restructuring of the commercial distribution sector and the improvement of such modern distribution modalities as chain store operation, modern logistics and e-commerce.

3. To research into and formulate policies for regulating the market operation and distribution order, breaking up market monopoly and regional blockage, to set up and improve an integrated, open, competitive and orderly market system. To monitor and analyze market activities and commodity supply and demand, organize the adjustment of market supply of main consumer goods and regulation of the distribution of major means of production.

4. To study on and work out measures for the regulation of import and export commodities and compile a catalogue thereof, organize the implementation of import and export quota plan, decide on quota quantity and issue licenses; to draft and implement import and export commodity quota tendering policies.

5. To formulate and execute policies concerning trade in technology, state import and export control, and policies encouraging the export of technology and complete set of equipment; to push forward the establishment of foreign trade standardization system; to supervise technology import, equipment import, export of domestic technologies subject to state export restriction and re-export of imported technologies, and to issue export licenses pertaining to nuclear non-proliferation.

6. To study on, put forth and implement multilateral and bilateral trade and economic cooperation policies, be responsible for multilateral and bilateral negotiations on trade and economic issues, coordinate domestic positions in negotiating with foreign parties, and to sign the relevant documents and monitor their implementation. To establish multilateral and bilateral intergovernmental liaison mechanisms for economic and trade affairs and organize the related work. To handle major issues in country-specific economic and trade relationships, regulate trade and economic activities with countries without diplomatic relationship with China. In line with the mandate, to handle the relationship with the World Trade Organization on behalf of the Chinese government, undertake such responsibilities under the framework of the WTO as multilateral and bilateral negotiations, trade policy reviews, dispute settlement, and notifications and inquires.

7. To steer the work of the commercial branches of China’s Permanent Mission to the WTO, to the UN and other relevant international organizations, as well as Chinese embassies in foreign countries. To keep in touch with the representative offices of multilateral and international economic and trade organizations in China and the commercial functions of foreign diplomatic missions in China.

(8) To organize and coordinate the work pertaining to antidumping, countervailing, safeguard measures and other issues related to fair trade for import and export. To institute a fair trade early warning mechanism for import and export, and organize industry injury investigations. To guide and coordinate domestic efforts in responding to foreign antidumping, countervailing, and safeguard investigations and other issues concerned.

(9) To give general guidance to nationwide efforts in foreign investment. To analyze and look into China's foreign investment developments and submit information concerning the developments and the corresponding proposals to the State Council on a regular basis. To draw up and enforce foreign investment policies and reform schemes, participate in the formulation of mid-term and long-term planning and development strategies for foreign investment utilization. To examine and approve, according to relevant laws, the establishment and changes thereafter of foreign-invested enterprises with foreign input exceeding the state fixed amount, or engaged in restricted business areas, or in businesses subject to quota and license administration. To verify the contracts and statutes of large-scale projects with foreign investment and their major subsequent changes particularly stipulated in relevant legislations. To supervise the enforcement of laws, regulations, contracts and statutes by foreign-invested enterprises. To guide and oversee nationwide efforts in attracting foreign investment and other business opportunities, as well as the establishment and trade performance of foreign-invested enterprises in China. Comprehensively guide and coordinate the specific work of state-level economic and technological development zones.

(10) To be responsible for China's foreign economic cooperation efforts. To formulate and implement policies and regulations on foreign economic cooperation, guide and monitor the regulation of overseas contract projects, labor cooperation and designing and consulting businesses. To work out administrative measures and specific policies guiding China’s overseas investment. To approve Chinese companies to invest in and set up overseas establishments (excluding financial companies) and supervise their operation.

(11) To be in charge of China's efforts in providing aid to foreign countries and regions. To formulate and implement China's foreign aid policies and plans, and sign the relevant agreements. To compile and execute annual foreign aid programs. To supervise and inspect the implementation of China's foreign aid projects. To manage China's foreign aid fund, concessional loans, special funds and other foreign aid funds of the Chinese government. To facilitate the reform on foreign aid provision modalities.

(12) To formulate and implement economic and trade policies as well as mid-term and long-term trade planning for the Hong Kong Special Administrative Region (HK SAR), Macao Special Administrative Region (Macao SAR) and Taiwan region. To hold economic and trade talks with the competent authorities in charge of trade and economic affairs of HK SAR and Macao SAR as well as authorized non-governmental organizations of Taiwan and sign the relevant documents. To be in charge of the commercial and trade liaison mechanism between the mainland and the HK SAR and Macao SAR. To organize the direct trading activities with Taiwan, and to be responsible for bilateral and multilateral trade issues involving Taiwan.

(13) To be responsible for the training, selection and management of Chinese professionals working in the Permanent Mission of the People's Republic of China To the World Trade Organization, the Economic and Commercial Counselor’s Offices of the Chinese Embassies and missions to other international organizations. To guide the work of the chambers of commerce for import and export and other relevant associations and societies.

(14) To undertake other assignments entrusted by the State Council.