BEIJING -- China's Ministry of Commerce (MOC) said Thursday that it would enrich its policy toolbox to alleviate the pressure of commodity price spikes on foreign trade companies.

Import diversification has been promoted, and stable channels of commodity trade established, with joint efforts from the ministry and other authorities, MOC spokesperson Gao Feng told a regular news briefing.

Looking ahead, the ministry will enhance the policy effects of export credit insurance and credit support, closely monitor commodity prices, and help enterprises reduce costs and expand markets, Gao said.