Chongqing - The Chongqing Customs District has recently awarded 12 local businesses in Chongqing AEO (Authorized Economic Operator) certifications. This achievement brings the number of AEO-certified companies in Chongqing to 100, the highest in Western China.
AEO certification represents a key component of modern international trade facilitation. It is a program under the World Customs Organization (WCO) framework designed to enhance global supply chain security and facilitate legitimate trade.
Businesses that achieve AEO status are recognized as reliable and trustworthy trade partners, which can lead to numerous advantages, such as expedited processing of shipments, reduced customs inspections, and prioritization during cargo disruption events.
Recent data reveals that AEO-certified companies represented about 0.6% of all import and export businesses in the Chongqing Customs District in the first ten months of the year. Surprisingly, they contributed nearly 60% to the city’s foreign trade value, impacting the stability of foreign trade.
Liu Hua, the General Manager of Chongqing Chinabase Star Import & Export Co., Ltd., a leading foreign trade company, expressed his views after receiving the 100th advanced certification from the Chongqing Customs District.
To qualify as an AEO company, Chongqing Customs District offered guidance on internal control, financial health, trade security, and other areas. This support helped firms to improve and standardize their trade practices, enhancing brand quality and standards.
In line with Chongqing’s objective to establish a modern manufacturing cluster system, the Chongqing Customs District is fostering the growth of enterprise clusters. These clusters are tailored to the region’s industrial strengths and specific requirements. Notably, 68% of the 100 AEO-certified companies are in manufacturing.
Tech Front (Chongqing) Computer Co., Ltd., a prominent player in Chongqing’s laptop market, achieved AEO certification in 2014.
Chen Yaozhen, the company’s customs associate manager, emphasized the importance of timely and stable customs processes due to the extended supply chain in the notebook computer industry.
Chen explained that as an AEO company, Tech Front enjoys several domestic benefits, including streamlined business procedures and lower inspection rates. Moreover, the certification facilitates smoother customs processes when exporting to countries that recognize the AEO status, boosting the company’s brand and global competitiveness.
The increasing significance of AEO certification has driven customs authorities to align with corporate growth by enhancing their support policies. Several new measures benefiting market entities are set to be introduced.
The Chongqing Customs District, following directives from the General Administration of Customs, is rapidly adopting guarantee exemption measures for AEO companies. AEO firms operating within comprehensive bonded zones can request guarantee exemptions for batch entry, exit, and centralized declaration activities.
Chen highlighted the financial impact of these policies, estimating a potential avoidance of around 70 million yuan in bank guarantees annually. This change is expected to significantly reduce the financial burden on companies like Tech Front.
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