Ministry of Commerce fully implements policies and measures to promote stable scale and excellent structure of foreign trade.
The General Administration of Customs issued the revised standard of origin under CEPA in Hong Kong.
Central banks of China and Arab countries renew bilateral local currency swap agreement
Philippines issues RCEP implementation regulations
Kazakh citizens can buy foreign electric vehicles duty-free.
The port of Djibouti requires compulsory provision of ECTN certificates.
1.The Ministry of Commerce fully implements policies and measures to promote stable scale and excellent structure of foreign trade.
Shu Yuting, spokesperson of the Ministry of Commerce, said that at present, the Ministry of Commerce is working with all localities and relevant departments to fully implement policies and measures to promote the stable scale and excellent structure of foreign trade, focusing on the following four aspects: First, strengthen trade promotion and increase support for foreign trade enterprises to participate in various overseas exhibitions. Continue to promote the smooth exchanges between enterprises and business people. Run the 134th Canton Fair, the 6th China International Import Expo(CIIE) and other key exhibitions. The second is to optimize the business environment, increase financial support for foreign trade enterprises, and further improve the level of customs clearance facilitation. The third is to promote innovation and development, actively develop the cross-border e-commerce+industrial loan model, and drive cross-border e-commerce B2B exports. Fourth, make good use of free trade agreements, promote high-level implementation of RCEP, improve the level of public services, organize trade promotion activities for free trade partners, and improve the comprehensive utilization rate of free trade agreements.
2.The General Administration of Customs issued the revised standard of origin under CEPA in Hong Kong.
In order to promote economic and trade exchanges between the Mainland and Hong Kong, according to the relevant provisions of the Agreement on Trade in Goods under the Closer Economic Partnership Arrangement between the Mainland and Hong Kong, the origin standard of the Harmonized System code 0902.30 in Annex 1 of Announcement No.39 of the General Administration of Customs in 2022 is now revised to “(1) From tea processing. The main production processes are fermentation, kneading, drying and blending; Or (2) the regional value component is calculated as 40% by deduction method or 30% by accumulation method “. The revised standards will be implemented as of July 1, 2023.
3. The central banks of China and Albania renewed the bilateral local currency swap agreement.
In June, the People’s Bank of China and the Argentine Central Bank recently renewed the bilateral local currency swap agreement, with a swap scale of 130 billion yuan /4.5 trillion pesos, valid for three years. According to the data of Argentine Customs, more than 500 Argentine enterprises have applied to use RMB to pay for imports, covering electronics, auto parts, textiles, crude oil industry and mining enterprises. At the same time, the share of RMB trading in Argentina’s foreign exchange market has also soared to a record 28% recently.
4.The Philippines issued RCEP implementation regulations.
According to recent media reports in the Philippines, the Philippine Customs Bureau issued the conditions for the implementation of special tariffs under the Regional Comprehensive Economic Partnership Agreement (RCEP). According to the regulations, only imported goods from 15 RCEP member countries can enjoy the preferential tariffs of the agreement. Goods transferred between member countries must be accompanied by certificates of origin. According to the Philippine Customs Bureau, of the 1,685 agricultural tariff lines that will maintain the current tax rate, 1,426 will maintain zero tax rate, while 154 will be levied at the current MFN rate. The Philippine Customs Bureau said: “If the preferential tariff rate of RCEP is higher than the tax rate applicable at the time of import, the importer can apply for refund of the overpaid tariffs and taxes on the original goods.”
5.Citizens of Kazakhstan can buy foreign electric vehicles duty-free.
On May 24th, the State Taxation Committee of the Ministry of Finance of Kazakhstan announced that citizens of Kazakhstan can buy an electric car from abroad for personal use from now on, and they can be exempted from customs duties and other taxes. When going through the customs formalities, you need to provide valid proof of citizenship of the Republic of Kazakhstan and documents proving the ownership, use and disposal of the vehicle, and fill out a passenger declaration form in person. In this process, there is no need to pay for collecting, filling out and submitting the declaration form.
6.The port of Djibouti requires compulsory provision of ECTN certificates.
Recently, Djibouti Ports and Free Zone Authority issued an official announcement, saying that from June 15th, all cargoes unloaded at Djibouti ports, regardless of their final destination, must hold an ECTN (Electronic Cargo Tracking Sheet) certificate. The shipper, exporter or freight forwarder shall apply for it at the port of shipment. Otherwise, customs clearance and transshipment of goods may encounter problems. Djibouti port is a port in Djibouti, the capital of the Republic of Djibouti. It is located at the crossroads of one of the busiest shipping routes in the world, connecting Europe, the Far East, the Horn of Africa and the Persian Gulf, and has an important strategic position. About one third of the world’s daily shipping passes through the northeast edge of Africa.
Post time: Jul-05-2023
