Shanghai FTZ to innovate customs policies

The General Administration of Customs recently signed a new memorandum of cooperation with the Shanghai municipal government to boost the customs policy innovation of the China (Shanghai) Pilot Free Trade Zone, marking a new step in cooperation between the two sides.

Since 2010, when the two parties began to cooperate, they have worked together to enhance Shanghai's opening-up and international competitiveness.

The new memo aims to propel coordinated development of customs and opening-up, speed up Shanghai's upgrading as an international economic, financial, trade, shipping and sci-tech innovation center, advance the building of Shanghai's four brands - services, manufacturing, shopping and culture -- and improving the metropolis's urban function and core competitiveness.

According to the memo, the General Administration of Customs will support the construction of the Shanghai FTZ and its new areas, explore customs innovation in the expanded areas, deepen customs reform innovation in the existing area, support the integration of special customs supervision areas, and drive the quality development of Shanghai's comprehensive bonded areas.

Furthermore, it will support Shanghai's development into a technological innovation center with global influence, establish a customs-related sci-tech innovation policy system, implement tax preferential policies, streamline customs clearance procedure, innovate the bonded supervision system, offer customized supervision service to key projects, carry out the strategy of Yangtze River Delta's integrated development, drive the collaborative customs innovation of Yangtze River Delta area, and support Yangtze River Delta construction as an international shipping system and trade market.

Shanghai is also encouraged to build import-export goods distribution and exhibition centers, set up a customs supervision service system for international exhibitions, expand trade in Asia-Pacific countries and even globally, streamline administration and delegate power, promote "one-window" service for international trade, explore the smart customs supervision model, optimize the infrastructures for customs enforcement, build intelligent ports and support the innovative supervision measures of the General Administration of Customs.