● The Central Bank of China supports cross-border RMB settlement of new foreign trade formats
The People's Bank of China recently issued the "Notice on Supporting Cross-border RMB Settlement in New Formats of Foreign Trade" (hereinafter referred to as the "Notice") to support banks and payment institutions to better serve the development of new formats of foreign trade. The notice will take effect from July 21.
The notice improves the relevant policies for cross-border RMB business in new foreign trade formats such as cross-border e-commerce, and also expands the scope of cross-border business for payment institutions from trade in goods and trade in services to the current account.
The notice clarifies that domestic banks can cooperate with non-bank payment institutions and legally qualified clearing institutions that have legally obtained Internet payment business licenses to provide market transaction entities and individuals with cross-border RMB settlement services under the current account.
● The entry quarantine time is shortened, and the subsidy policies for "exhibiting on behalf of" localities are sorted out
Astute foreign trade people may have noticed that in the regular policy briefing held by the State Council on June 8, in terms of helping foreign trade enterprises to seize orders and expand the market, it specifically mentioned "supporting small, medium and micro enterprises to communicate with domestic online counterparts". , overseas offline commodity exhibitions, etc. to participate in overseas exhibitions” is the policy orientation.
On June 28, the Joint Prevention and Control Mechanism of the State Council of China issued the "New Coronavirus Pneumonia Prevention and Control Plan (Ninth Edition)" (hereinafter referred to as the "Ninth Edition Prevention and Control Plan"). Adjust the isolation and control time of close contacts and inbound personnel from "14 days of centralized isolation medical observation + 7 days of home health monitoring" to "7 days of centralized isolation medical observation + 3 days of home health monitoring", and the close contact control measures have been changed from "7 days of centralized isolation medical observation + 3 days of home health monitoring". "Centralized isolation medical observation for days" was adjusted to "7-day home isolation".
Zhejiang, Guangdong, Shandong, and Henan have issued subsidy policies for "exhibiting on behalf of others", encouraging us to go all out - to go out and grab orders to ensure the basic foreign trade. Arrangement of subsidy policies for "exhibiting on behalf of" in various places!
● List of preferential policies for enterprises in Ningbo Port and Tianjin Port in China
Ningbo Zhoushan Port issued the "Ningbo Zhoushan Port Announcement on Implementing Relief Measures to Help Enterprises" to help foreign trade enterprises bail out. The implementation time is tentatively scheduled from June 20, 2022 to September 30, 2022, as follows:
1. Extend the free stacking period for foreign trade imported heavy containers. From 0:00 on June 20th, for foreign trade imported heavy containers (except dangerous goods containers), the stack-free period has been extended from 4 days to 7 days;
2. The ship supply service fee (refrigerator refrigeration) during the free period of foreign trade imports of reefer containers is exempted from the cargo side. From 0:00 on June 20, imported reefer containers for foreign trade will be exempted from the ship supply service fee (refrigerator refrigeration) generated in the port during the exemption period;
3. Exemption of short barge fees from the port to the inspection site for foreign trade import inspection reefer containers. From June 20th, if the foreign trade imported reefer container applies for and implements the transfer inspection operation through the Yigangtong card transportation trading platform, the fee for short transfer from the port to the inspection site will be exempted;
4. Exemption of short barge fees from the foreign trade import LCL port to the unpacking warehouse. From June 20th, if the foreign trade import LCL applies for and implements the unpacking operation through the Ningbo Zhoushan Port International Consolidation Platform, the short transfer fee from the port to the unpacking warehouse will be exempted;
5. Exemption of some multimodal transport export container depot usage fees (transportation). Starting from June 20, the warehouse usage fee (transit) caused by early entry of some multimodal export containers will be waived;
6. Open a green channel for foreign trade export LCL. Starting from June 20, for foreign trade export LCLs that have been released and packed in the customs supervision warehouse, the terminal company has opened a green channel for early entry, and waived the warehouse usage fee for early entry (transfer to the warehouse). stack);
7. The temporary storage fee for the joint venture outside the port of the joint-stock company is reduced by half. In order to further reduce the additional expenses such as the temporary drop fee of the enterprise outside the port, the co-ordinating joint-stock company's joint venture outside the yard will keep a certain temporary drop box from June 20 and reduce the temporary drop fee. The reduction rate is in principle publicized 50% of the price.
8. Tianjin Port Group will also implement ten measures to relieve difficulties and benefit enterprises from July 1 to September 30. The ten preferential service initiatives include:
(1) Exemption of the “everyday shift” port operation fee for the public inner branch line around the Bohai Rim, and for the transfer container carried by the “everyday shift” of the public inner branch line around the Bohai Sea, the port operation fee (loading and unloading fee) is exempted;
(2) The usage fee of the transit container yard is exempted, and the usage fee of the transit container yard for the "everyday shift" of the public inner branch line around the Bohai Sea is exempted;
(3) Free of yard usage fees for imported empty containers for more than 30 days, and free of warehouse usage fees for foreign trade imported containers entering the port after the 30th day;
(4) Exemption from the use fee of the warehouse for the transfer of empty containers in transit, and for the use of the terminal warehouse for the empty containers of the foreign trade liner company in Tianjin Port for transit and distribution;
(5) Reduction and exemption of refrigeration monitoring fees for imported refrigerated containers. For foreign trade imported refrigerated containers entering the port, the refrigeration monitoring fees incurred from the 5th day to the 7th day shall be calculated and charged according to the 80% standard;
(6) Reducing or exempting the export fees of inland enterprises, and reducing or exempting the relevant expenses incurred by the return of customs and transshipment and exceeding the free storage period for the export of container goods by sea-rail combined transportation;
(7) Reduction and exemption of inspection-related fees, and for container goods that have no problems in the inspection of sea-rail intermodal transportation, the warehouse usage fee (stocking) within 30 days during the inspection process is exempted;
(8) Open the "green channel" for sea-rail intermodal transport, export container goods for sea-rail intermodal transport, open the "green channel" for reserved collection ports, and enjoy free early port collection services;
(9) To further increase the proportion of "Double Direct", cooperate with Tianjin Customs to further increase the proportion of "direct loading upon arrival" and "direct pickup by ship", effectively improve the speed of customs clearance, reduce logistics links, and further reduce the logistics cost of enterprises;
(10) To further improve the service level, continue to improve the efficiency of the terminal company's air and land transportation operations, and implement "three priorities" for enterprises that have the need to relieve difficulties in the process of port collection and distribution operations, namely port procedures priority, terminal site priority, port priority The work plan takes precedence.
● Algeria suspends trade in goods and services with Spain
Dissatisfied with Spain's stance toward closer Morocco on the issue of Western Sahara, the Algerian government on June 8 suspended the 20-year friendship and cooperation treaty with Spain and suspended trade in goods and services with Spain from the 9th.
Spain is Algeria's fifth largest source of imports and supplies, after China, France, Italy and Germany. It is also Algeria's third export target market. Spain pays Algeria US$5 billion to buy natural gas every year. Spain is a transit country for many imported products from Spain, which are imported from Europe, Asia and the Americas and packaged in Spain for export to Afghanistan. The announcement of the termination of the relationship sparked panic among Algerian importers.
Currently Arab importers are seeking alternatives to Spanish products. The most important substitutes for importers are paper, cartons and various chemicals, the most important of which are citric acid, colorants, preservatives, etc. In addition, there are packaging materials, iron products, vegetable and animal oils, dyes, plastics and meat, etc. The import of ceramics from Spain has dropped sharply. Argentina is exporting ceramics to Spain through many factories. In addition, it also exports iron, salt, seeds, fish, sugar, dates and fertilizers. Fuel exports to Spain account for 90% of its total exports.
● The United States exempts import tariffs on solar panels from Southeast Asia
On June 6, local time, the United States announced that it would grant a 24-month import tariff exemption for solar modules purchased from four Southeast Asian countries, including Thailand, Malaysia, Cambodia and Vietnam, and authorized the use of the Defense Production Act to accelerate domestic manufacturing of solar modules. . At present, 80% of US solar panels and components come from four countries in Southeast Asia. In 2021, solar panels from the four Southeast Asian countries accounted for 85% of the US's imported solar capacity, and in the first two months of 2022, the proportion rose to 99%.
Since the photovoltaic module companies in the above-mentioned countries in Southeast Asia are mainly Chinese-funded enterprises, from the perspective of division of labor, China is responsible for the design and development of photovoltaic modules, and Southeast Asian countries are responsible for the production and export of photovoltaic modules. The analysis of CITIC Securities believes that the new measures of phased tariff exemption will accelerate the recovery of a large number of Chinese-funded enterprises in Southeast Asia.
● Brazil further reduces the burden of import taxes and fees
The Brazilian government will further reduce the burden of import taxes and fees to expand the openness of Brazil's economy. A new tax cut decree, which is in the final stages of preparation, will remove from the collection of import duties the cost of the dock tax, which is charged for loading and unloading goods at ports.
The measure will effectively reduce the import tax by 10%, which is equivalent to the third round of trade liberalization. This equates to a drop of about 1.5 percentage points in import tariffs, which currently average 11.6 percent in Brazil. Unlike other MERCOSUR countries, Brazil levies all import taxes and duties, including the calculation of terminal taxes. Therefore, the government will now reduce this very high fee in Brazil.
Recently, the Brazilian government announced to reduce the import tax rate of beans, meat, pasta, biscuits, rice, building materials and other products by 10%, which will be valid until December 31, 2023. In November last year, the Ministry of Economy and Foreign Affairs had announced a 10% reduction in the commercial tariff rate of 87%, excluding goods such as cars, sugar and alcohol.
In addition, the Management Executive Committee of the Foreign Trade Commission of the Ministry of Economy of Brazil issued Resolution No. 351 of 2022, deciding to extend from June 22, the capacity of 1ml, 3ml, 5ml, 10ml or 20ml, Disposable syringes with or without needles are suspended for a tax period of up to 1 year and terminated upon expiry. The MERCOSUR tax numbers of the products involved are 9018.31.11 and 9018.31.19.
● Iran lowers the import value-added tax rate of some basic commodities
According to IRNA, according to a letter from Iran’s Vice President of Economic Affairs Razai to the Minister of Economy and Finance and the Minister of Agriculture, with the approval of the Supreme Leader, the country will import wheat, rice and oil from the date of entry into force of the VAT law until the end of 1401. The VAT rate for seeds, raw cooking oil, beans, sugar, chicken, red meat and tea was reduced to 1%.
According to another report, Amin, Minister of Industry, Mining and Trade of Iran, said that the government has proposed a 10-article automobile import regulation, which stipulates that the import of automobiles can be started within two or three months after approval. Amin said that the country attaches great importance to importing economical vehicles under 10,000 US dollars, and plans to import from China and Europe, and has now started negotiations.
● FDA changes food import procedures
The U.S. Food and Drug Administration has announced that beginning July 24, 2022, U.S. food importers will be required to fill out the U.S. Customs and Border Protection forms for foreign supplier status The entity identification code "UNK" (unknown) will no longer be accepted.
Under the New Foreign Supplier Verification Program, importers must provide a valid Data Universal Number System number for a foreign food supplier to enter into the form. DUNS number (DUNS number) is a unique and universal 9-digit identification number used to verify business data. For businesses with multiple DUNS numbers, the number applicable to the location of the FSVP (Foreign Supplier Verification Programs) record will be used. All foreign food supply businesses that do not have a DUNS number can apply for a new number through D&B's Import Safety Inquiry website (httpsimportregistration.dnb.com). The website also allows businesses to look up DUNS numbers and request updates to existing numbers.
● South Korea applies 0% quota tariff to some imported goods
In response to soaring prices, the South Korean government has announced a series of countermeasures. Major imported foods such as pork, edible oil, flour, and coffee beans will be subject to a 0% quota tariff. The South Korean government expects this to reduce the cost of imported pork by up to 20 percent. In addition, the value-added tax on purely processed foods such as kimchi and chili paste will be exempted.
● Shipping companies impose fines on wrong declarations
The shipping company ONE has issued a notice on the implementation of the levy of the container weight difference surcharge (WDS), which will be implemented on the Asia-Europe route, only on the westbound route. ONE said fines will be levied if cargo details are incorrectly declared at the time of booking.
Penalties apply in cases including but not limited to: misdeclaration of cargo details found at the time of booking submission, specifically, including but not limited to cargo weight, final bill of lading display details and Verified Gross Mass (VGM) information that deviates by more than + /- 3TON/TEU. In addition, for post-cutoff VGM revisions and misstatements, its revision and misstatement charges also apply to such related shipments. From July 1, 2022 (booking receipt date), a weight difference fee of USD 2,000 per container will be levied.
Post time: Jul-06-2022