Customs clearance time at the China (Shanghai) Pilot Free Trade Zone is much shorter as the average time for import and export was reduced by 78.5 percent and 31.7 percent respectively, compared with areas outside the FTZ, addressed by the SFTZ recently. At Shanghai ports, customs clearance time this year was cut by 3.68 hours in import and 2.17 hours in export, compared with last year.
The customs divides cargoes into different categories to improve storage operation efficiency with digital supervision. It means that the companies no longer need to have two warehouses inside and outside of the SFTZ. Origin Supply Chain Management Co and other 34 enterprises have also benefited from a new supervisory measure. By connecting cameras in warehouses with the customs’ system, the customs can monitor in real time cargo at different clearance stages, which allows enterprises to centralize the storage. “We can now integrate two warehouses, two management systems and staff together, which has greatly lowered costs in clearance and storage,” said the president of Origin Supply Chain Management Co.
Dongjin comments:
- The new measure as “supervision the cargoes into different categories” makes the companies involving in the imported and distribution industry to save the operation cost and improve its efficiency. The company involving in such industry may apply for enjoying the favorable policy at SFTZ customs.
- The new foreign investors can also take the advantage of this policy and re-calculate the operation costs. This new policy may speed up their pace to enter into the China market.
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Ms. Jojo Hu
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Email: jojohu@shanghaiinvest.com