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SCIO briefing on China's import and export performance in 2024

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Elephant News:

We have noted that last month, the GACC introduced 16 measures to further optimize the business environment at ports and facilitate customs clearance for enterprises. Could you please introduce the key points of these measures? And what new measures will the GACC introduce this year to stabilize foreign trade in accordance with the guiding principles of the Central Economic Work Conference? Thank you.

Wang Lingjun:

I would like to invite Mr. Lin to answer these questions.

Lin Shaobin:

Thank you for your questions. In 2024, the giant ship of China's foreign trade sailed ahead against all winds and waves, thanks to the strong impetus provided by the policies. From the timely introduction of incremental policies, such as several measures to promote steady growth in foreign trade, to the combined effects of various existing policies, the benefits of policies have been continuously released. These high-quality policies have injected strong momentum into the growth of foreign trade. Just now, the reporter mentioned that the GACC previously introduced 16 measures to further optimize the business environment at ports and facilitate customs clearance for enterprises, with the aim of creating joint efforts to promote steady growth in foreign trade.

In order to introduce the 16 measures, we made a lot of preparations and conducted extensive field research. We went into factories and workshops, listened to the requirements of enterprises, asked about their difficulties, and strived to ensure that the policies and measures can address the pains, difficulties and bottlenecks of enterprises. Overall, these measures focus on the three following aspects. Here, I would like to briefly introduce them.

First, these policies focus on fostering new forms of business. We have optimized the regulatory model for cross-border e-commerce, developed new forms of business of "bonded plus," such as bonded repair and bonded remanufacturing, vigorously supported the healthy and well-regulated development of border trade, further increased the trade volume, and expanded the overall scale of foreign trade.

Second, these policies focus on building new strengths. We have optimized the reform of the customs clearance model for imported goods, with a focus on ensuring the import of energy and mineral products as well as food and agricultural products, and have further facilitated the expansion of exporting products such as automobiles. As such, the customs clearance of these goods, which account for a significant portion of our foreign trade volume, can be more efficient. In this way, the time and costs saved can be translated into a competitive edge for import and export enterprises, thereby stabilizing foreign trade.

Third, these policies focus on stimulating new vitality. We have further extended the list of facilitation measures for AEOs, prioritizing exclusive benefits such as fast-track customs clearance and priority inspections for AEOs. We have expanded the scope of application for voluntary disclosure policies, helped enterprises make good and full use of favorable taxation policies, and made every effort to help foreign trade enterprises enhance their capabilities and stabilize their expectations.

The Central Economic Work Conference has made clear arrangements for expanding high-standard opening up and maintaining the stability of foreign trade and foreign investment. Next, customs will further take firmly stabilizing foreign trade as the priority and fully stimulate the power for making progress. In terms of stabilizing foreign trade, we will boost efforts to ensure the implementation and track the effectiveness of existing policies and measures. Focusing on the pains, difficulties and bottlenecks of enterprises, we will introduce more targeted measures to stabilize foreign trade at an appropriate time. In terms of driving progress, we will continue to comprehensively deepen customs reforms, fully unleash development potential, introduce a new round of measures to support the high-quality development of comprehensive bonded zones, launch customs measures for regulating the Hainan Free Trade Port, and implement a three-year special action for the inspection and admission of food and agricultural products from Belt and Road partner countries, continuously providing inexhaustible power to drive forward the giant ship of China's foreign trade.

Thank you.

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