Recently, Guangzhou Municipal Commission of Commerce(GMCC) issued the Implementation Opinions on Promoting the Development of Comprehensive Foreign Trade Service Enterprises(short for Implementation Opinions hereinafter), aiming to energetically nurture comprehensive foreign trade service enterprises, offer integrated international market exploration services for medium, small and micro enterprises, and drive the foreign trade to upgrade and transform. It is said that enterprises designated for foreign trade service pilot operation may hopefully win support in the aspects of customs clearance, financing service and tax rebate etc.

 

According to the Implementation Opinions, the designated pilot enterprises will be titled “Guangzhou Foreign Trade Comprehensive Service Pilot Enterprise” and granted the plate accordingly. The pilot enterprises will have priority in enjoying the earmarked funds and relevant financial support policies of the Central Government, the provincial and municipal governments. Pilot enterprises, with self-support export of goods with production contracts between domestic producers and overseas companies or individuals, may apply for tax rebate or exemption at the national taxation authorities according to the self-support export incentives. Within the state’s export taxation rebate plan, the pilot enterprises will have priority in the tax rebate or exemption. The tax rebate or exemption approval procedures for exports with real, complete and correct application documents and without problems in approval will be completed within twenty (20) working days. Remote application and tax rebate services are provided to the pilot enterprises. And paperless management will be explored and carried out for the tax rebate or exemption of pilot enterprises when conditions are ready.

 

Meanwhile, customs will offer special green windows for pilot enterprises in goods announcement, inspection, release and rapid customs clearance, carry out low inspection rate and simplify document verification for imported and exported goods, the classified and accelerated disposal for exported goods only involving custom clearance bills.

 

In addition to the customs clearance convenience in customs inspection and quarantine, pilot enterprises may have opportunity to enjoy financing service. According to the Implementation Opinions, financial institutions should intensify the credit support to pilot enterprises, develop innovative financial products which meet the demands of comprehensive foreign trade service suppliers, and strengthen the publicity of export credit insurance. GMCC should guide pilot enterprises, medium, small and micro enterprises to expand export by means of export credit guarantee. Insurers should properly lower down the export credit premium rate for pilot enterprises. And platforms linking financial institutions and pilot enterprises should be built to offer financing convenience for pilot enterprises.

The Implementation Opinions reminds qualified enterprises to submit applications to the competent district commercial department. After examination, the district commercial department shall give recommendation opinions and report to GMCC. After qualifying the co-evaluation of GMCC with finance, national taxation, customs, inspection and quarantine, banks and the public notification, the enterprise will be designated as a “Guangzhou Foreign Trade Comprehensive Service Pilot Enterprise.” 

 

Source: business.sohu.com, Aug. 20, 2015