Business / Policy Watch

Shenyang Customs to implement FTZ regulations

By Liu Ce in Shenyang ( Updated: 2014-09-01 17:23

Shenyang Customs said on Sunday that five regulations already in force at China (Shanghai) Pilot Free Trade Zone (FTZ) will be launched in Shenyang Comprehensive Bonded Zone.

According to Shenyang Customs, the zone will introduce all 14 innovative regulations of Shanghai FTZ in three phases.

In the first phase, they will implement five regulations, including "centralized tax collection", "separate delivery, concentrated declaration", "self-handled transportation", "simplified paperless customs clearance" and "simplified arrival-departure record list".

Another five regulations will be implemented in the next phase.

Shenyang Comprehensive Bonded Zone was established in October 2009. It is divided into two sections serving logistics, processing and manufacturing, research and development, testing and maintenance. Its annual trade volume is estimated to hit $70 billion next year.

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