Since the Regional Comprehensive Economic Partnership (RCEP) took effect in January, customs authorities in Beijing have simplified permit procedures for certificates of origin and further improved the city's business environment for cross-border trade.

As of April, Beijing Customs has issued 963 RCEP certificates of origin for goods worth approximately $62.89 million. A total of $6.4 million of goods were imported with preferential tariff rates under the partnership, reducing tax paid by 1.38 million yuan.

To stabilize and improve the quality of foreign trade, Beijing Customs has recently introduced 28 measures with strict COVID-19 countermeasures in place. It has rolled out pilot innovation programs to optimize the business environment and launched campaigns to facilitate cross-border trade in a bid to build a world-leading port with high administrative efficiency and low costs.

Beijing Customs has increased support for companies enjoying trade relations with RCEP member states, countries involved in the Belt and Road Initiative (BRI), five Central Asian countries and Central and Eastern European countries. It has been working to improve the credit status of cross-border e-commerce platforms and specialized innovators. So far, a total of 264 such companies have obtained the Authorized Economic Operator (AEO) status.

On the credit repair side, Beijing Customs has restored or rectified poor credit scores for 21 companies. It also introduced a series of measures to simplify customs procedures for companies with AEO status.

Beijing Customs also encourages companies to improve their credit status and introduce preferential policies concerning AEO mutual recognition arrangements between China and BRI countries.

For example, the China branch of global energy giant Shell has enjoyed various trade facilitation benefits after the company obtained high-level AEO status. Nearly 3 million yuan of custom duty deposits payable by processing trade has been exempted every year.

Beijing Customs has also collaborated with the management committee of the city's Central Business District and established an innovative service center for foreign trade companies in countries along the route of the BRI and RCEP participants.

Beijing Customs plans to launch a new campaign this year to better explain its preferential policies to companies. More than 600 foreign trade businesses will be briefed on policies concerning tariff reductions, certificates of origin issuing, and clearance procedures.

Related

Go to Forum >>0 Comment(s)