New model bolsters rapid growth in cargo exports in Ningbo

chinadaily.com.cn| Updated:  February 23, 2021 L M S


A container ship anchors at Ningbo-Zhoushan Port, waiting to be unloaded. [Photo by Yao Feng/For China Daily]

Ningbo customs handled a total of 34,400 declarations for 66,300 containers exported from Zhejiang under the market procurement trade model, up 33.5 percent and 35.7 percent respectively.

In mid-September last year, an additional 17 markets nationwide, including Huzhou (Zhili) children's clothing and consumer goods trading management center, were designated as national pilot zones for market procurement trade, bringing the total number of such markets in the nation to 31.

The model is one in which eligible business operators buy goods with a single declaration value of up to $150,000 in market cluster areas recognized by commerce authorities and other agencies, as well as undergo export goods' clearance procedures at the point of purchase.

Eligible enterprises will be entitled to VAT exemptions and faster customs clearance services and are allowed to directly collect and settle foreign transactions.

Zhejiang is currently home to six pilot zones for market procurement trade. These zones are located in cities including Yiwu, Haining, Wenzhou, Shaoxing and Taizhou.

The goods from these cities are shipped overseas in the form of custom transfer in Ningbo.

The application of a paperless supervision system has reduced the time required for these goods to clear customs at Ningbo ports by more than three hours.