Import and export procedures have been simplified by trade facilitation measures unveiled in the Shanghai pilot free trade zone.Allowing goods to enter the zone before going through customs declaration procedures is considered the most influential measure, 34% international traders use it and benefit from it.
A consolidated duty payment system that enables firms to make monthly customs clearance declaration got the nod of 25 percent of international traders.
Some 19% of them favored the measure allowing companies to move goods within the FTZ in their registered vehicles, which cut logistics costs and save time for them.
In retrospect, companies operating in Shanghai were able to benefit from the new trade facilitation solutions that are being deployed in the zone, which effectively reduces supply chain barriers and lowers the costs of logistics.
Actually, the successful measures will very likely be introduced in the mainland’s second batch of free trade zones.