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Trade facilitation measures simplify producers, survey shows
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TRADE facilitation measures introduced by Shanghai pilot free trade zone have proved to be useful in simplifying import and export procedures, a survey showed.
The policy allowing goods to enter the zone before going through customs declaration procedures is considered as the most influential measure with 34 percent of respondents currently using it and benefiting from it, according to a survey by PricewaterhouseCoopers.
A consolidated duty payment system that enables enterprises to make customs clearance declaration on a monthly basis got the nod of 25 percent of respondents, the survey showed.
Some 19 percent of the respondents favored the measure enabling companies to transport goods within the zone with their own registered vehicles, which helped them to cut logistics costs and save time, according to the survey.
Shanghai’s customs authorities have launched 14 pilot measures to cut clearance costs and improve efficiency of the customs process in the city’s pilot free trade zone.
“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 to be rolled out in the second batch of free trade zones.
The survey involved 500 companies registered in China in the first quarter of 2015, with participants coming from a number of different industries including industrial products, automotive, chemical, technology, retail and consumer and life sciences.
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