China recently issued the "Several Measures for Piloting Pilot Programs in Qualified Free Trade Zones and Free Trade Ports to Promote Institutional Opening-up by Connecting to International High Standards", and decided to open five cities with conditions in Shanghai, Guangdong, Tianjin, Fujian, and Beijing. The Pilot Free Trade Zone and Hainan Free Trade Port have taken the initiative to carry out pilot projects.
As an important move to expand institutional opening-up, this move will bring significant benefits to many industries.
Faster customs clearance for foreign trade companies
The "Several Measures" further clarifies the time standards for customs clearance of air express cargo and general cargo in pilot areas.
According to regulations, under the premise of meeting the supervision requirements of my country's customs and completing the necessary quarantine procedures, air express cargo will be released within 6 hours after arrival under normal circumstances; Possible release within 48 hours.
In addition, customs clearance costs have been further reduced. Chen Zhenchong, director of the Free Trade Zone and Special Area Development Department of the General Administration of Customs, said that the new regulations clearly allow the customs to allow minor errors in the certificate of origin. When confirming the origin of the goods, printing errors, typing errors, and non-critical information Minor errors such as omissions or subtle differences between documents will not affect enterprises' enjoyment of preferential tariff treatment, and enterprises do not have to repeatedly revise and submit application materials, which will help reduce the cost of capital, manpower and time for enterprises.
As another example, the "Several Measures" clearly allows import enterprises to apply for an extension before the expiration of the advance ruling, provided that the law, facts and circumstances on which the advance ruling is based have not changed. This ensures the continuity of pre-ruling decisions and avoids the gap between new and old rulings, which is conducive to improving the level of trade facilitation.
It is more convenient for foreign business personnel to enter the country
The "Several Measures" allow the accompanying spouses and family members of the experts transferred by foreign-invested enterprises in the pilot areas to enjoy the same entry and stay period as the experts,
Yang Zhengwei, director of the Free Trade Zone Port Construction Coordination Department of the Ministry of Commerce, said that providing convenient conditions for the families of foreign experts to live together in China and ensuring that experts can work and live in China with peace of mind will help attract international talents and drive pilot areas The flow of various development elements such as knowledge, technology, capital, and market in the country.
In addition, the "Several Measures" also extend the validity period of temporary entry stay to 2 years for senior managers of foreign companies who plan to establish branches or subsidiaries in pilot areas, and allow accompanying spouses and family members to enjoy the same entry The period of stay and stay provides convenient arrangements for entry, stay and residence for foreign executives and their spouses and family members who come to China for investment inspections and plans to establish branches or subsidiaries.
Since the beginning of this year, executives of multinational companies have repeatedly set off a "crazy to come to China", expressing their willingness to deepen the Chinese market. According to analysts, these new regulations are conducive to attracting foreign companies to invest in China and improving the level of my country's utilization of foreign capital.
The remanufacturing industry welcomes new opportunities for development
The "Several Measures" support pilot regions to carry out pilot projects for the import of remanufactured products in key industries. The new regulation clarifies that the relevant imported products are not applicable to China's relevant measures prohibiting or restricting the import of old products, but they should meet all applicable technical requirements of the country for the same new products and relevant regulations on remanufactured products, and the words "remanufactured products" should be marked in a prominent position .
Chen Chunjiang, assistant minister of the Ministry of Commerce, said that in recent years, the global remanufacturing industry has developed rapidly. It is necessary to explore a new management mechanism for imported remanufactured products that are mature, clear in standards, safe and environmentally friendly.
He said that the launch of the pilot program for the import of remanufactured products this time clarifies that relevant measures to prohibit or restrict the import of old products in my country are not applicable to qualified imported remanufactured products, which will promote the import of remanufactured products, meet domestic demand, and reduce the cost of enterprises. cost, enriching consumer choice.
Airline companies and shipping companies are expected to reduce costs
According to the current regulations, if the means of transport such as aircrafts and ships to be repaired abroad have been declared to the customs when they leave the country and are re-shipped within the time limit specified by the customs, the duty-paid value shall be determined by reviewing the overseas repair fee and material fee , Taxes are levied in accordance with the regulations.
This pilot measure is applicable to aircraft operated by airlines with Hainan Free Trade Port as the main operating base, and Hainan Free Trade Port operated by shipping companies registered in Hainan Free Trade Port with independent legal personality Ships whose ports in the trading port are the port of registry, temporarily leave the country for repairs and then re-ship to Hainan Free Trade Port, regardless of whether they have added value or not, are exempt from customs duties.
Chen Chunjiang said that this system innovation will help reduce the repair costs of relevant aviation companies and shipping companies, and better enjoy the policy dividends of Hainan Free Trade Port.
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