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Chinese government take efforts to release financial pressure on international trade companies
Post Time:2020-03-17Author:F2C_Dom

Roll out new measures to cut fees 


According to an official guideline released on March 10, Chinese custom will roll out new measures including cutting arrears payments for import companies, as a part of efforts to promote work resumption and international trade.


Companies that failed to declare their imported goods in time due to the epidemic can apply for the exemption from paying delayed declaration fees.


Companies can apply for a three-month extension for items declared before April 30, with guarantors temporarily exempted from paying indemnities.


While enhancing epidemic control and prevention at ports, the ministry pledged efforts to make full use of various policy tools and further streamline process of clearance, in a bid to ensure steady growth of foreign trade.

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Further reduces port and cargo charges


In early March, China State Council's meeting already made the decision to reduce port security charges, cargo dues and some of the other port charges. On March 16, China’s Ministry of Transport and Ministry of Finance issued notice of a reduction in port construction fees and payments to the ships oil pollution damage compensation fund for a period of six months.

According to the notice, China will reduce 50% of ships oil pollution damage compensation fund and will not charge port construction fee for the export and import cargos for the period of 1 March - 30 June.

The measure was released to support work resumption and stabilising operation of the economy under the prevention and control of the coronavirus (COVID-19).


Source: XinhuaNet News, Seatrade Maritime News

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