BEIJING: China has vowed efforts to streamline cargo clearance procedures to smooth foreign trade and improve the business environment. The “single-window system,” a trade facilitation policy that enables faster and easier cargo clearance, will be adopted in all ports nationwide by the end of the year, according to a statement released Wednesday after an executive meeting of the State Council, presided over by Premier Li Keqiang.
An information-sharing platform will also be created to reduce the documents required for traders and help realize paperless customs declaration, examination and tax payment. To relieve corporate burdens, unreasonable port fees will be cut or eliminated and compliance costs of containers will be reduced. Strengthened supervision and risk control in cargo clearance were also highlighted in the statement. It was the latest move from the world’s major trading nation to stimulate imports and exports amid a sluggish global economy. China’s exports in yuan-denominated terms rose 14.3 percent year on year in April while imports increased 18.6 percent, still resilient following a strong start to 2017.
