Easing trade in FTZ gets thumbs-up
Print Edition
IMPORT and export procedures have been simplified by trade facilitation measures unveiled in the Shanghai pilot free trade zone, according to a PricewaterhouseCoopers survey.
Allowing goods to enter the zone before going through customs declaration procedures is considered the most influential measure, with 34 percent of the survey respondents using it and benefiting from it, according to the results released by PwC yesterday.
A consolidated duty payment system that enables firms to make monthly customs clearance declaration got the nod of 25 percent of the respondents, the survey showed.
Some 19 percent of them favored the measure allowing companies to move goods within the FTZ in their registered vehicles, which cut logistics costs and save time for them, the survey said.
“In retrospect, companies operating in Shanghai were able to benefit from the new trade facilitation solutions that are being deployed in the zone, which effectively reduces supply chain barriers and lowers the costs of logistics,” said Damon Paling, PwC China trade and customs partner.
“The successful measures will very likely be introduced in the mainland’s second batch of free trade zones.”
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