BEIJING, Feb. 26 (Xinhua) – The General Administration of Customs (GAC) on Tuesday issued a circular introducing measures to support the high-quality development of comprehensive bonded zones in China.
Customs across the country should give priority to the Pilot Free Trade Zone (FTZ) in the establishment of comprehensive bonded zones, and it will also speed up the transformation and upgrading of special customs supervision areas such as bonded port areas into integrated bonded zones.
Efforts will be made to promote the implementation of global maintenance and remanufacturing operations in the bonded areas, the circular said.
Online customs supervisions will be conducted on the qualified enterprise that apply management systems such as Enterprise Resource Planning (ERP) and Warehouse Management System (WMS).
The customs will accelerate certifacation process for enterprises applying for advanced certificates like the Authorized Economic Operator (AEO), while online processing will be given to enterprises that intend to apply for customs registration and other relevant businesses.
It is noted that the comprehensive bonded zone is a special customs supervision area with favorable policies and simplified procedures established by Chinese authority by referring to the FTZ.
Customs data show that China saw a total of 2.9 trillion yuan of imports and exports contributed by the bonded zones in 2019, up 11.9 percent year-on-year, accounting for 9.2 percent of the country's total foreign trade in the year. (Edited by Jiang Feifan, firstname.lastname@example.org)