China: Updated processing trade operations procedures
China: Updated processing trade operations procedures
Authorities in China have repealed the examination and approval procedures for processing trade operations, and have implemented a replacement in-process and post-process regulatory mechanism.
The Ministry of Commerce and General Administration of Customs jointly issued guidance known in English as “Announcement [2016] No. 45” to replace the examination and approval procedures for processing trade operations with an in-process and post-process regulatory mechanism nationwide. That guidance was subsequently updated when a notice (Shang Ban Mao Han (2016) No. 720) was issued 26 August 2016 that further specifies and explains the certificate of operating condition and production capacity of processing trade enterprises.
The recently updated procedures reflect an intention for streamlined administrative examination and approval procedures for bonded operations under customs supervision that date back to 2013 when Guangdong customs authorities provided practical experience and a basis for the implementation of this new procedure.
Read a September 2016 report prepared by the KPMG member firm in China: Examination and approval procedures for processing trade operations to be abolished nationwide
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