The Customs Authorities Introduced New Measures... | KPMG | CN

The Customs Authorities Introduced New Measures to Promote the Steady Growth of Foreign Trade

The Customs Authorities Introduced New Measures...

Issue 34, December 2015

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China Tax Alert

According to the import and export statistics released by the General Administration of Customs on 26 November 2015, imports fell by 15.7% YoY and exports by 2.5% YoY1 from January to October 2015.In this background, the General Administration of Customs issued the Several Measures Introduced by the General Administration of Customs to Promote the Steady Growth of Foreign Trade (“the Measures”) in order to promote the steady growth of foreign trade, arrest the declining trend as soon as possible and lay a solid foundation for the growth of foreign trade in 2016. As far as the Measures are concerned, most of them reiterate and sort out the policies and measures taken in the past year by the customs authorities regarding the reform of the customs and the promotion of foreign trade. Some are an improvement on the policies already introduced while some are unveiled for the first time. They can serve as references for enterprises to acquire an understanding of future customs policies and can also provide sustained policy support for enterprises to adjust their operations. In view of the fact that there are many aspects involved in the measures, enterprises can conduct targeted assessment of the policies and take actions accordingly.

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