CIIE introduces new customs policies to help exhibitors sell goods

Exhibitors of the third edition of the China International Import Expo will enjoy two new customs policies which will make it easier to import exhibits and sell them after the expo.

Ye Jian, deputy head of Shanghai Customs, introduced the facilitation policies at a news conference on Friday, which include a new type of customs guarantee for exhibits, and an authorization of selling the exhibit on cross-border e-commerce platforms after the expo.

For foreign exhibits to clear customs, companies are required to provide guarantee to ensure that they comply with laws on tax duties.

"Instead of paying deposits, the companies can use customs guarantee insurance this year for their exhibits, which will not occupying their capital," Ye said. "The time for goods clearance is also relatively short for customs guarantee insurance."

The other supporting policy will allow exhibitors to transfer their exhibits to customs special supervision zones or bonded logistics centers and then sell them on cross-border e-commerce platforms.

"This policy provides a new channel for companies to turn their exhibits to goods," Ye said, adding that the other related policies for previous editions of the CIIE, such as the extension of the valid period of ATA carnet, will be extended to the third edition.