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Shanghai Jiading Export processing Zone [Photo/jiading.gov.cn] |
In order to develop local cross-border businesses, Jiading district in Shanghai recently released a work program and implementation schedule to connect with the Shanghai Pilot Free Trade Zone. It touches on six aspects, including trade facilitation, reform on investment management and upgrading the Jiading Export Processing Zone into a comprehensive bonded zone.
Jiading customs and the Shanghai Pujiang Entry-Exit Inspection and Quarantine Bureau signed a strategic cooperation agreement on Nov 10 to simplify clearance procedures. When the new policy was first implemented on Nov 13, customs examined 476 cosmetic products with a total value of nearly $6,500, saving two hours in clearance.
In order to enhance trade facilitation reform, Jiading has implemented a string of simplified policies at the customs-supervised areas, such as the distric's export processing zone, greatly improving clearance efficiency, said a customs officer.
According to the work program, the district will promote the transformation of the export processing zone into a comprehensive bonded zone. Apart from the increased holding capacity, the comprehensive bonded zone can serve inland port operation and international entrepot trade and enjoy favorable policies in customs, tax and foreign exchange.