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Customs fees to be scrapped
Source: Xinhua |
September 21, 2012, Friday
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Print Edition
Print Edition
CHINA will scrap customs supervision charges for foreign trade enterprises starting October 1 to ease their burdens amid faltering trade, according to a circular released yesterday by the Ministry of Finance and the National Development and Reform Commission.
China will also exempt all outbound and inbound goods, as well as transport vehicles and containers, from inspection and quarantine fees from October 1 to December 31, the circular said.
The ministry estimated that the latest policy will save foreign trade enterprises about 3.5 billion yuan (US$550 million).
The move came after the State Council, China's Cabinet, approved a raft of measures earlier this month to stabilize trade growth, including speeding up the export tax rebate process, reducing administrative costs for companies, lowering financing costs for micro and small-sized enterprises and boosting credit to qualified exporters.
China will also exempt all outbound and inbound goods, as well as transport vehicles and containers, from inspection and quarantine fees from October 1 to December 31, the circular said.
The ministry estimated that the latest policy will save foreign trade enterprises about 3.5 billion yuan (US$550 million).
The move came after the State Council, China's Cabinet, approved a raft of measures earlier this month to stabilize trade growth, including speeding up the export tax rebate process, reducing administrative costs for companies, lowering financing costs for micro and small-sized enterprises and boosting credit to qualified exporters.
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