Skip to Content Facebook Feature Image

Streamlined clearance at Shanghai Free Trade Zone sets benchmark for efficiency

China

China

China

Streamlined clearance at Shanghai Free Trade Zone sets benchmark for efficiency

2024-09-19 19:51 Last Updated At:20:07

The Shanghai Pilot Free Trade Zone (FTZ) has created a benchmark for its peers nationwide with its streamlined customs clearance and government approvals, bringing slashed costs and speedier logistics for enterprises.

At Shanghai's largest cold chain logistics center for fruits, nearly 10,000 containers are imported annually from South America alone.

To keep tropical fruits fresh after traveling thousands of miles, a new international trade mechanism has been developed and perfected in the city's FTZ.

"Previously, foreign ships were not allowed to engage in coastal transport within China. So bananas from South America had to be routed through Busan, South Korea, before reaching the three major ports in north China. Now, with the FTZ allowing coastal transport by foreign vessels, bananas can be transferred directly from Yangshan Port to the three northern ports, reducing shipping time by one to two weeks and significantly cutting costs for companies," said Jiang Jianli, logistics director of Goodfarmer Foods Holding Group.

The Shanghai Port now handles over 49 million standard containers annually, or an average of 1.5 containers are processed per second.

Managing such a high volume of ships and goods while maintaining order requires advanced systems. A decade ago, companies had to physically submit piles of documents for customs. Now, the process has gone digital.

"The Shanghai International Trade Single Window links 22 regulatory departments, including customs and maritime affairs departments, into one platform. This provides businesses with one-stop service and automated real-time declarations around the clock," said Zhang Jie, deputy director of the Shanghai Municipal Commission of Commerce.

The system has reduced the time required for cargo declarations from one day to half an hour and for ship declarations from two days to two hours.

It now supports over one-quarter of China's foreign trade, facilitating the country's exports and imports. Items like Spanish ham, New Zealand honey, Mongolian cashmere, Syrian soap, Pakistani handicrafts, coffee beans from East Timor and international beauty brands now reach the Chinese market more quickly.

Trade facilitation in the FTZ has played a crucial role in the China International Import Expo (CIIE), held annually since 2018.

"Global products now become available in Shanghai instantly after they are launched, which is very convenient," said a local resident.

Businesses benefit from streamlined processes and consumers enjoy faster access to products, thanks to the government's proactive efforts.

The average approval time for business licenses has been cut by 90 percent, and the required application materials have been reduced by 70 percent.

More than 300 business-related approval items are now fully processed online, boosting innovation and entrepreneurship.

Beyond food and consumer goods, the FTZ has also made waves in the art world.

The Shanghai FTZ was the first to implement the system for temporary entry of cultural relics, doubling their permitted stay in China.

Artifacts can enter bonded warehouses within 24 hours of arrival and be displayed or traded across the country while under bonded status.

From 2013 to 2023, the total value of cultural relics and artworks entering and leaving the Shanghai FTZ reached over 100 billion yuan (more than 14. 16 billion U.S. dollars). The number of art pieces processed annually at the FTZ grew from less than 100 to more than 10,000.

In the Lingang New Area, a part of the FTZ, smart heavy-duty trucks, taxis, and buses have become part of daily life.

Five years ago, the first wholly foreign-owned vehicle manufacturing project in China was launched in Lingang, completing construction and starting production within the same year.

Since the establishment of the Lingang New Area five years ago, its GDP has grown by an average of 19.8 percent annually, industrial output of major businesses by 34.6 percent, and fixed asset investment by 33.4 percent.

The area has also attracted around 100,000 talents with an average annual hike of 97 percent.

Streamlined clearance at Shanghai Free Trade Zone sets benchmark for efficiency

Streamlined clearance at Shanghai Free Trade Zone sets benchmark for efficiency

Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.

Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.

More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.

Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.

"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.

During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.

"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.

In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.

With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.

"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.

Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition

Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition

Recommended Articles