Dec. 1 – Single-window customs clearance is now in place in the entire Chinese mainland, allowing companies to declare cargo and taxes with a single submission. A standard version covers all trade ports, with a total of 35,000 registered users and more than 100,000 daily declarations, according to the General Administration of Customs (GAC).
The platform has nine functions, including declaration of cargo, transportation, and payment of taxes and fees. Instead of filing the same information repeatedly with different authorities, traders are able to declare cargo and taxes with a single submission on a web-based platform for free, improving efficiency and reducing costs. The single-window system will help companies lower costs by 10 percent and save 10 percent of time needed for clearance. A third of all clearance procedures will be cut, according to southwest China’s Chongqing port. In Shanghai, cargo clearance efficiency has been raised by about 30 percent.
The average clearance time for imports and exports within the jurisdiction of Shanghai Customs was 21.67 hours and 1.35 hours respectively for the first eight months of 2017, 26 percent and 32 percent shorter than the same period last year. The platform also enables authorities of 11 related agencies to share declaration data, logistical control information and credit standings to create a better business environment. China is committed to extending single-window processing of international trade and nationwide integration of customs clearance procedures. From May this year, the State Council required all ports to adopt single-window systems.
China’s Export, Import Growth
Chinese trade growth accelerated for a second month in June in a positive sign for global demand and the world’s No. 2 economy. Imports gained 17.2 percent to $153.8 billion, up from May’s14.8 percent growth. Exports rose 11.3 percent to $196.6 billion, up from May’s 8.7 percent rate, customs data showed. Chinese leaders are trying to encourage domestic consumption and reduce reliance on trade and investment. But there are skeptical that the current pace of imports can be sustained for much longer given the increasing headwinds to China’s economy from policy perspective, according to a related capital economics report.
Signs of a Pickup in Global and Domestic Demand
Chinese manufacturing activity accelerated in November, the China Federation of Logistics and Purchasing said its purchasing managers’ index rose to 52.4 from October’s 51.6 on a 100-point scale on which numbers above 50 show activity accelerating. Trucks busy moving Maersk shipping containers at a port in Qingdao in eastern China’s Shandong Province. Components of the survey that measure imports, exports and new orders all improved. Chinese economic growth has been unexpectedly strong this year. One of the most important issues facing international trading companies conducting trade with China is the question of taxes and duties required on goods imported into and exported out of the country, for many companies engaged in imports-exports businesses, this is not a simple question, and rates and procedures vary from product to product. For companies need to know the details on the subject, a China report: How to Calculate Import-Export Taxes & Duties in China is available upon request, please contact with DCCC, or email to: firstname.lastname@example.org