Goods transshipped by Hong Kong will have the domestic tariff preference
In order to encourage businessmen choose Hong Kong priority as their transshipment port, General Administration of Customs of PRC and Customs and Excise Department of HKSARC signed a co-operation arrangement, Origin of Transhipment Cargo in Hong Kong under Free Trade Agreements. According to this agreement, the goods of trade companies who are relevant to domestic being transshipped by Hong Kong have the domestic tariff preference. And government of Hong Kong Special Administrative Region stated that it will improve Hong Kong's stage of international trade and shipping center.
According to the agreement, the current cooperation countries which are relevant to domestic cover ten ASEAN countries, which are Brunei, Kampuchea, and Indonesia, Laos, Malaysia, Burma, the Philippines, Singapore, Thailand and Vietnam. Other countries are Australia, The People's Republic of Bangladesh, and Chile, Costa Rica, Iceland, India, Korea, New Zealand, Pakistan, Peru, Sri Lanka, Switzerland and Taiwan.
Hong Kong customs has launched the agreement since December 20 last year, provided supervision service for the goods transshipped by Hong Kong and signed the Confirmation Letter to proof the rules of those goods should not be reprocessed and help traders to apply for tariff preference. This plan has received total 1120 applications and the value of goods is over 88million dollars. And the tariff preference is estimated more than 5.1 million dollars. The government pointed out that this plan distributes to those goods enjoying tariff preference, reinforce Hong Kong's situation as area logistics center, and improve the development of Hong Kong trade logistics with the One Belt and One Road strategies.
Some experts stated that the meaning of these two agreements are the position of entrustment which is recognized by China and signed by Hong Kong. And the most benefit is that it will attract foreign businessmen choose Hong Kong as their transshipment port which will strengthen Hong Kong's position as Freight logistics hub, because those goods through Hong Kong still have the tariff preference as those good through directly China. Businessmen would take the factors like efficiency of port, shipping time, number of runs or flights into consideration when choosing a transshipment port, which Hong Kong can provides.
--Reports from WAIMAOLIAN
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