Chongqing - Tech-Front (Chongqing) Computer Co., Ltd., located in the Western (Chongqing) Science City, recently exported a batch of laptops from the Xiyong Comprehensive Bonded Area under a new customs procedure.
This is the first time in Chongqing that a highly certified enterprise within the comprehensive bonded area is not required to provide financial guarantees for import and export goods.
Officers of Xiyong Customs, Chongqing Customs District, offer policy support at Tech-Front (Chongqing) Computer Co., Ltd. (Photo/ Chongqing Xiyong Micro-Electronics Industrial Park)
This new customs procedure simplifies customs clearance by enabling batch processing and centralized goods declaration. Companies can now transport goods first and complete customs declarations within a specified timeframe.
Previously, businesses had to furnish financial guarantees to manage risks, which tied up funds and added operational pressure. This new method reduces customs operations and greatly improves shipment efficiency compared to traditional procedures.
"The new method lets us clear customs more efficiently than traditional tax payments and reduces the financial pressure from risk guarantees," said a spokesperson from Tech-Front, a Taiwan-based manufacturer of notebook computers and other electronic hardware, which leads in global notebook manufacturing.
Tech-Front is a prominent Xiyong Comprehensive Bonded Zone player, and its annual peak production has reached over 55 million laptops.
Chongqing Xiyong Comprehensive Bonded Zone hosts the world's largest laptop manufacturing center and facilitates the production of various smart products, printers, servers, smartphones, and wearable devices. It has also established a complete industrial chain for integrated circuits, covering chip design, manufacturing, packaging, and testing.
In 2023, the General Administration of Customs implemented 23 measures to boost comprehensive bonded zones, including one enabling highly certified enterprises like Tech-Front to operate without financial guarantees. This initiative relieves significant financial burdens, saving companies like Tech-Front up to 70 million yuan (USD 9.66 million) previously tied up in guarantees.
"This exemption from providing financial guarantees reduces our operational costs and streamlines our processes, enabling faster clearance and less bureaucratic hassle," explained an official from Xiyong Customs, Chongqing Customs District. The policy aids businesses in allocating resources more efficiently, focusing on innovation and developing high-value products.