Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


China Customs to trial new import clearance procedures


8 April 2013


China Customs to trial new import clearance procedures for New Zealand goods

The General Administration of China Customs (China Customs) and the New Zealand Customs Service announced today a trial of new procedures that will allow for the clearing of New Zealand goods held in bonded storage (Special Customs Control Areas and Bonded Places) when they reach China.

The two customs administrations have been working together to establish a procedure that will now see importers in China receiving the full benefits of the China New Zealand Free Trade Agreement (FTA) on goods that are placed in bonded storage and declared for part release into the domestic market.

The Department of Duty Collection of China Customs says the Pilot will allow, on a trial basis, the ‘multiple use’ of a Certificate of Origin to clear goods under the China-NZ FTA when goods are declared in part for domestic consumption. This means importers in China will receive the same lower preferential tariff rate for the entire shipment regardless of multiple parts of the shipment being released into the domestic Chinese market.

New Zealand’s FTA with China allows goods of New Zealand origin to enter China at lower duty rates than those applicable to international competitors. Under the terms of the Agreement, duty rates will reduce to zero on most New Zealand goods exported to China by 2019.

NZ Customs Acting Group Manager Policy, Richard Bargh says “The FTA opens up economic opportunities for New Zealand business in China, and boosts commercial ties with a country that, on current trends will become New Zealand’s largest trading partner within the next two years. We are pleased with the changes in procedure that are being trialled.”

“The new procedures allow New Zealand exporters to realise the full benefits available to them under the FTA by enabling China importers to receive tariff preferences on entire shipments of qualifying goods and not just parts of them – a shipment of wine for example could save the importer up to 14 per cent duty across the whole consignment.”

The twelve month trial will commence during the second half of 2013 and involve the six ports of Guangzhou, Nanjing, Qingdao, Shenzhen, Shanghai and Tianjin.

Goods exported from all Chinese ports to New Zealand, that qualify as Chinese origin, will be granted the FTA preferential rate of duty.

The new procedures will be made available on the China Customs website www.customs.gov.cn, the New Zealand Customs website www.customs.govt.nz and the China New Zealand Free Trade Agreement website www.chinafta.govt.nz prior to the commencement of the pilot.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news