Import and export statistics released by the General Administration of Customs reveal a decline in imports and exports for the period January to October 2015. To address this trend, the customs administration introduced measures to promote the growth of foreign trade.
Among the items are measures to:
Most of the measures reiterate past actions by the customs authorities regarding the reform of the customs and the promotion of foreign trade. Some of the new measures are viewed as improvements to existing policies, while some are new. In general, the new measures may serve as a “reference” point for enterprises that need to acquire an understanding of the customs administration policies and as such may provide information that enterprises could use in adjusting their operations.
Read a December 2015 report [PDF 336 KB] prepared by the KPMG member firm in China: The Customs Authorities Introduced New Measures to Promote the Steady Growth of Foreign Trade
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.