February 13, 2018

Shanghai FTZ’s 2017 import and export volume hit US$213.7 billion

Shanghai Free Trade Zone’s total import and export volume reached 1.35 trillion yuan (US$213.72 billion) in 2017 with an increase of 14.7 percent from the previous year, according to data released at the recently held 2018 Shanghai Customs working conference. This is partly due to the 31 innovation policies introduced into the zone last year.

Shanghai Customs is striving to accelerate the construction of the cross-border trade platform with complete trade and logistics chains. Also, Shanghai Customs, China COSCO Shipping Corporation Ltd, and Shanghai International Port (Group) Co Ltd have teamed-up to build an information chain to realize immediate clearance and data transparency, and impose precise supervision on the risky shipments by using the big data.

Gao Rongkun, director of Shanghai Customs, said the agency has levied 4.14 trillion yuan (US$655.42 billion) in tax from 1978 to 2017, which has become a cornerstone of China’s government revenue. In 2017, Shanghai customs collected 430.591 billion yuan (US$ 68.2 billion) in tax with a year-on-year increase of 19.1 percent, accounting for 22.7 percent of the total tax revenue of all customs across China.

Shanghai Customs also helped promote the business cooperation between Shanghai and the Yangtze River Delta region and the belt and road countries. In 2017, the import and export from the belt and road countries through Shanghai Customs reached 1.4 trillion yuan, a year-on-year increase of 17.8 percent.

Currently, Shanghai Customs is working out the implementation details of the 2018-2020 cooperative action plan for the country’s General Administration of Customs and China’s clearance plan for the belt and road countries. It will also take all necessary steps to ensure the Shanghai Customs supervision on the upcoming China International Import Expo in November, 2018.

Last year, Shanghai Customs’ average clearance check-in and check-out time were 18.77 and 1.32 hours respectively. This year, the customs will further streamline the companies’ clearance procedures, and further shorten the clearance time.