China Opens Customs Throughway for High-tech FirmsThe General Administration of Customs (GAC) and the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) will provide more convenient and time-saving customs procedures for export-oriented high-tech companies to support exports.According to a notice jointly released by the two departments recently, China's high-tech companies with annual export volumes above 100 million U.S. dollars are entitled to apply for such throughway procedures. The convenient procedures include customs declarations in advance, on-line declarations, speedy customs transfer, customs clearance on guarantees, and consulting services. All these measures are expected to take effect in October this year and the GAC is now rectifying computer networks. The procedures that can be done by hand will take effect on August 1. An official from the GAC noted that the measures will improve the efficiency of China's foreign trade and customs clearance management. But he added that the GAC will keep alert on these companies and will punish illegal activities severely. |
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