China's customs clearance time was slashed in 2019, meeting a target set by the State Council two years ahead of schedule, the General Administration of Customs announced on Monday (13.01.2020).
Customs clearance time for imports decreased to 36,7 hours in December last year, a reduction of 62,3 percent compared to 2017, while The export period fell to 2,6 hours, which represents a drop of 78,6 percent.
Furthermore, Chinese import and export companies saw the number of customs declaration items decrease from 229 in the past to 105.
China has also simplified clearance procedures and reduced related tariffs over the past two years.
In October 2018, the State Council required customs to reduce the time required to clear goods in 2017 by half by the end of 2021.
China has pledged to create favorable conditions for businesses in terms of reducing settlement time, supporting cross-border e-commerce and promoting the diversification of export markets.
In terms of cross-border trade, the Asian country ranked 56th last year, up from 65th in 2018, according to a report titled “Doing Business 2020” by the World Bank.
Source: Xinhua
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