Hainan launches new customs system for e-commerce – Business & Economy
HAIKOU / China /, November 20. / TASS /. Hainan Province (southern China) has for the first time launched a mechanism for declaring goods in cross-border e-commerce, which will allow goods to be delivered quickly from suppliers in the PRC to overseas consumers. This was announced by the administration of Jiangdong New Economic Zone (in the northern part of the island), where the new, more efficient customs procedure has already started to operate.
As indicated in an official statement published on WeChat, new declarations allow the export of goods purchased online via a foreign warehouse, in accordance with the principle of “business to consumer” (B2C). “This means that the Jiangdong area is the first in the Hainan Free Trade Port area to control shipments to foreign markets through two mechanisms. The second, B2B (” business to business “), involves direct business-to-business interaction, ”the local commented. authorities.
B2C business contacts with other countries should help overseas consumers to receive goods ordered in China faster. According to official calculations, the transport efficiency in terms of time spent will increase by more than 70%, and the delivery volume will increase by more than 20%.
“In addition, costs will decrease, after-sales service guarantees will increase, and the overall efficiency of transportation in the e-commerce retail sector will increase,” Jiangdong Economic Zone authorities said. “We will continue to create conditions conducive to free trade and cross-border capital flows.
Through such efforts, Hainan is expected to develop a more reliable supply chain in cooperation with countries participating in the Regional Comprehensive Economic Partnership and those which have joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Dynamic transformation of international trade
Authorities in Hainan have actively improved their foreign trade system, with the provincial government announcing in January that by 2025 all local customs offices will cease to operate in their current mode. According to Shen Xiaoming, secretary of the Hainan Party Committee, the necessary conditions will be in place by 2023, and authorities plan to agree on secondary details of the new mechanism within two years. In about three years, all island residents will be classified as offshore residents with a special legal status different from all other mainland Chinese citizens.
According to official statistics, Hainan’s foreign trade exceeded $ 17.54 billion from January to October, an increase of 76.8 percent year-on-year. Exports increased 42.2% to $ 4.07 billion, and imports increased 90.9% to $ 13.47 billion. Major trading partners of the southernmost province of China include Russia, members of the Association of Southeast Asian Nations, the European Union, the United States, Vietnam and Indonesia.