Tag Archives: the General Administration of Customs

Chinese Latest Laws and Regulations of October 2012, I

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I. The State Council Issues the Sixth Batch of Items Requiring Administrative Approval to be Abolished and Adjusted.

On October 10, 2012, the State Council issued the Decision on the Sixth Batch of Items Requiring Administrative Approval to be Abolished and Adjusted (hereinafter referred to as the “Decision”), accordingly, 171 items are cancelled and 143 items are adjusted.

It shall be noted that the items abolished according to the Decision include the requirement of pre-approval for commercial service providers of Internet information to be listed in the domestic market, approval for contracted operation or entrusted operation of Sino-foreign contractual joint venture enterprises by foreign enterprises (including Hong Kong, Macau and Taiwan), approval for the establishment of certification consulting institutions and a series of items previously being regulated by the China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CSRC), China Insurance Regulatory Commission (CIRC) and State administrative for Foreign Exchange.

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The Latest Laws and Regulations of July, I

I.  From 1st of August, 2012, Export Enterprises won’t be Required to Go through the Formalities of Collection, Verification, Writing-off of Export Proceeds in Foreign Exchange

The State Administration of Foreign Exchange, the General Administration of Customs and the State Administration of Taxation jointly issued the Announcement on Reform concerning to Foreign Exchange Administration System of Goods Trade, and the reform will be implemented nationally on 1st of August, 2012. Reportedly, from 1st of December, 2012, the reform has been piloted in 7 provinces such as Jiangsu, Shandong, etc.. The reform covers the administration method including the cancellation of paper of collection, verification and writing-off of export proceeds, no need to go through the formalities of collection, verification and writing-off of export proceeds; implementation of dynamic sort management referring to classifying the enterprises into 3 sorts according to the compliance and the consistency of export and import of goods; and adjustment to declaration process for export, etc.. Meanwhile, the State Administration of Foreign Exchange has delivered new laws and regulations for administration of foreign exchange of goods trade to the local departments of foreign exchange and banks authorized to deal with foreign exchanges, accordingly the old documents are abolished.

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