News

August 07, 2017

Customs reform helps boost foreign trade in Pudong

Import and export clearance time will be cut by one third this year in Shanghai Pilot Free Trade Zone, customs officials told a recent conference in Pudong New Area.

Shanghai Customs and Shanghai Entry-Exit Inspection and Quarantine Bureau announced 20 measures to facilitate foreign trade in the FTZ and Pudong.

Shanghai Customs said it will continue to promote a credit tracking system and share data with government agencies, expand supervision reform of bonded and non-bonded goods, and enhance its clearance efficiency.

The entry-exit inspection bureau has adopted paperless clearance, supported biomedicine enterprises and helped enterprises overcome trade barriers.

In the first half of 2017, Pudong’s foreign trade hit 943.12 billion yuan (US$140.35 billion), a year-on-year growth of 20 percent and accounting for 60.7 percent of the city’s total, thanks to reforms and innovations in the FTZ over the past three years.

Also at the conference, 50 companies were named model enterprises in foreign trade, including China UnionPay, Avic International, and Maserati.