BEIJING, Jan. 17 (Xinhua) – China has achieved mutual recognition in Authorized Economic Operator (AEO) status with 36 countries and regions, to which China's exports accounted for around 45 percent of its total exports, according to the General Administration of Customs (GAC), China's top customs authority.
The AEO system, initiated by the World Customs Organization (WCO), aims at facilitating customs clearance for enterprises through the authentication by customs on enterprises with high level of law compliance, credit status and safety.
Customs of different countries can provide related facilitation to qualified enterprises of each other through mutual recognition of AEO status.
It is reported that when Chinese enterprises with AEO status export goods to countries and regions with mutual recognition of AEO status, the customs inspection rate for the goods can be reduced by 60 to 80 percent, cutting the time and cost for customs clearance significantly by over 50 percent.
According to GAC, China had finished or been conducting consultations on mutual recognition of AEO status with more than a dozen countries in 2018.
China will continue to actively advance the consultation on mutual recognition of AEO status with B&R countries in 2019, in a bid to support Chinese enterprises to go global and foster global trade, said GAC. (Edited by Gu Shanshan)
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