Baotou integrates into city cluster, encourages foreign trade

Baotou has actively advanced in the Hohhot-Baotou-Ordos-Wuhai integration development plan, promoting the high-speed and high-quality development of foreign trade.

From January to April this year, Baotou achieved 9.64 billion yuan ($1.36 billion) of import and export value, accounting for 47.9 percent of the import and export value of the Hohhot-Baotou-Ordos-Wuhai city cluster.

To better serve foreign trade enterprises, Baotou Customs conducted six policy training on RCEP, cross-border e-commerce, and customs protection of intellectual property – guiding enterprises to take advantage of preferential foreign trade policies.

The RCEP, or the Regional Comprehensive Economic Partnership, is a landmark trade accord that occurred at the start of the year involving China and regional partner nations. Since its introduction, tariffs between its members has reduced.

At the same time, Baotou improved the whole process of customs clearance integrated management mechanism. It put forward more than 10 suggestions for optimizing international trade, improving the satisfaction of foreign trade enterprises.

In addition, to promote high-quality foreign trade development, the city has implemented policies such as a zero tax rate on coal imports. It has increased the static coal storage capacity, solving the problem of insufficient storage space at the port.