According to the up-to-date data released by the General Administration of Customs, China’s total export and import value reached 2.47 trillion yuan in May, 2020, with a fall of 4.9% year on year, which was more than the fall of 0.7% in April. Among them, the export reached 1.46 trillion yuan, with a rise of 1.4%, and the import reached 1.01 trillion yuan, with a fall of 12.7%. On the whole, China’s total export and import value in the first five months of the year reached 11.54 trillion yuan, with a fall of 4.9% year on year, which was the same as the fall in the first four months. Among them, the export reached 6.2 trillion yuan, with a fall of 4.7%, and the import reached 5.34 trillion yuan, with a fall of 5.2%. As to how China’s foreign trade will develop, for now, there are still many uncertain and unstable factors. At the same time, China’s foreign trade is hugely resilient and has enormous potential and ample room for growth, so the positive long-term development trend has not changed.
1. Announcement of the General Administration of Customs, No. 68, 2020 (Announcement on Relevant Matters concerning Adjusting Inbound and Outbound Trains and the Declaration and Transmission of Electronic Data of Manifests of Goods and Articles Carried Thereon)
For the purposes of strengthening the customs administration of inbound and outbound trains and goods and articles carried thereon, regulating the declaration and transmission of relevant data, in accordance with Measures of the General Administration of Customs of the People's Republic of China for the Administration of Inbound and Outbound Means of Transport (promulgated as Decree No. 196 of the General Administration of Customs, revised according to Decree No. 240 of the General Administration of Customs, hereinafter referred to as the Measures for Means of Transport) and Measures of the General Administration of Customs of the People's Republic of China for the Administration of Manifests of Inbound and Outbound Means of Transport (promulgated as Decree No. 172 of the General Administration of Customs, revised according to Decree No. 235, No. 240 of the General Administration of Customs, hereinafter referred to as the Measures for Manifests), the relevant requirements concerning inbound and outbound trains and the declaration and transmission of electronic data of manifests of goods and articles carried thereon have been hereby raised. Please refer to the below link for more detailed information.
Link:
http://www.customs.gov.cn/customs/302249/2480148/3063267/index.html
2. Announcement of the General Administration of Customs, No. 63, 2020 (Announcement on Expanding the Scope of Self-Service Printing of the Certificates of Origin)
For the purposes of further optimizing the business environment at ports and facilitating cross-border trade, the General Administration of Customs has decided to add the certificates of origin of goods exported to Indonesia and Singapore under the Framework Agreement on Comprehensive Economic Co-Operation Between Association of South East Asian Nations (ASEAN) and the People's Republic of China and the certificates of origin of goods exported to India under the Asia-Pacific Trade Agreement as self-service printable certificates on the basis of the original 15 self-service printable certificates of origin, as of May 11, 2020. Other matters shall be governed by the Announcement No. 77 [2019] of the General Administration of Customs.
Link:
http://www.customs.gov.cn/customs/302249/302266/302267/3073114/index.html
3. Announcement of the Ministry of Commerce, the Ministry of Ecology and Environment and the General Administration of Customs, No. 16, 2020 (Announcement on Supporting Comprehensive Bonded Zones in Repair Businesses)
For the purpose of supporting enterprises in comprehensive bonded zones in repair businesses with high technology and high added value and in line with the requirements for environmental protection, in accordance with Several Opinions of the State Council on Promoting the Innovative Development of Processing Trade (No. 4 [2016] of the State Council) and Several Opinions of the State Council on Boosting the High-Level Opening-Up and High-Quality Development of Comprehensive Bonded Zones (No. 3 [2019] of the State Council), new guides concerning the repairs in comprehensive bonded zones have been hereby made. Please refer to the below link for more detailed information.
Link:
http://www.mofcom.gov.cn/article/b/c/202005/20200502965882.shtml
4. Notice of the State Administration of Foreign Exchange on Supporting the Development of New Business Forms of Trade (No. 11 [2020] of the State Administration of Foreign Exchange)
For the purposes of promoting the industrial upgrading of foreign trade, accelerating the development of new business forms of trade like cross-border e-commerce and enhancing the facilitation of foreign exchange payments and receipts under trade, new adjustments concerning foreign exchange payments and receipts of foreign trade comprehensive services and cross-border e-commerce enterprises have been hereby made. Please refer to the below link for more detailed information.
Link:
http://www.safe.gov.cn/safe/2020/0520/16232.html
5. Notice of the General Office of the State Council on Forwarding the Implementation Opinions of the National Development and Reform Commission and the Ministry of Transport on Further Reducing Logistics Costs (No. 10 [2020] of the General Office of the State Council)
Link:
http://www.gov.cn/zhengce/content/2020-06/02/content_5516810.htm
6. Notice of the Ministry of Commerce on Several Measures for Supporting China (Hubei) Pilot Free Trade Zone in Speeding up Its Development (No. 102 [2020] of the Ministry of Commerce)
For the purposes of implementing in depth the decisions and arrangements of the CPC Central Committee and the State Council to advance work on coordinating the prevention and control of COVID-19 and the economic and social development, sticking to guarding against imported cases and preventing a resurgence of the outbreak at home, playing free trade zones’ role of test field in comprehensively deepening reform and expanding opening up, energizing market entities, generating new momentum for development, and advancing work resumption, commerce resumption and market resumption, the Ministry of Commerce proposed several measures to support China (Hubei) Pilot Free Trade Zone (hereinafter referred to as Hubei Pilot Free Trade Zone) in speeding up its development on the premise of regular epidemic prevention and control.
Link:
http://www.mofcom.gov.cn/article/b/fwzl/202006/20200602970745.shtml
7. The CPC Central Committee and the State Council Released the Overall Plan for the Construction of Hainan Free Trade Port.
Beijing, June 1 (Xinhua) The CPC Central Committee and the State Council released the Overall Plan for the Construction of Hainan Free Trade Port, and issued a notice to require all regions and all departments to consciously implement it based on the actual circumstances. The Overall Plan is composed of four sections, which are overall requirements, institution design, plans in steps and phases and organization and implementation.
Link:
http://www.gov.cn/zhengce/2020-06/01/content_5516608.htm
That is all for this issue's compilation of major policy updates on import and export trade. Please feel free to contact us if you need more information or have any feedback for us.
