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Shanghai Creates China's Quickest Customs Efficiency
The Waigaoqiao Bonded Zone in Shanghai can offer China's quickest customs port clearance, which takes 10 hours to run all the procedures to pass a batch of goods.
The efficiency, which is guaranteed by computerized technology, represents an advanced level in the world, said experts.
The largest bonded zone in China is now a home to many production plants funded by global giants, such as Intel, Hewlett- Packard, Philips and JVC. Foreign trade efficiency is crucial to the business of these transnational companies.
China's average customs clearance period is one and-a-half days. As the largest foreign trade port, Shanghai has vowed to lead the country in improving the overall customs efficiency in order to ensure a target of increasing the total customs trade volume to US$180 billion by 2005 from the present US$109 billion a year.
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