01 The latest optimized cross-border RMB policy was released
On January 4, the People’s Bank of China, together with the National Development and Reform Commission, the Ministry of Commerce, the State-owned Assets Supervision and Administration Commission, the China Banking and Insurance Regulatory Commission, and the Foreign Exchange Administration jointly The “Notice on Further Optimizing Cross-Border RMB Policies to Support Stabilizing Foreign Trade and Foreign Investment” was released and will be implemented from February 4, 2021.
The “Notice” consists of five parts, covering promoting higher-level trade and investment RMB settlement facilitation based on the needs of the real economy, further simplifying the cross-border RMB settlement process, and optimizing cross-border RMB settlement. Five aspects include investment and financing management, facilitating cross-border RMB receipts and payments under individual current accounts, and facilitating the use of RMB bank settlement accounts of overseas institutions.
The fundamental starting point and foothold of the new regulations is to focus on solving the difficult and painful problems that market entities have strongly reflected on, and open up the “last mile” of policy implementation, on the premise that risks are controllable. We will continue to improve the level of cross-border RMB settlement facilitation and effectively enhance the sense of gain and satisfaction of enterprises.
For example, it is proposed to “carry out a higher-level trade and investment facilitation pilot nationwide”. On the basis of the “three principles of business development”, domestic banks can, based on the application submitted by high-quality enterprises, “Cross-border RMB Settlement Receipt/Payment Instructions” or receipt and payment instructions directly handle cross-border RMB settlement of goods trade and service trade for high-quality enterprises, as well as the legal and compliant use of RMB income from capital projects within the country. Previously, the above measures were only piloted within the free trade zone.
02 The special action to “promote cross-border trade facilitation” was launched
A four-month The 2021 special action to promote cross-border trade facilitation was launched on January 19. The General Administration of Customs, together with the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the Ministry of Transport, the State Administration for Market Regulation and other departments, jointly launched 18 measures to optimize processes, reduce costs, reduce time, improve efficiency, etc., and strive to solve the current concerns of market entities. “blocking points”, “pain points” and “difficulties”.
In view of the current shortage of export container ship capacity and empty containers, actively guide international container liner companies and container production enterprises to further increase the investment in ship capacity, expand container production capacity and route capacity, and improve International liner and container supply capabilities reduce cross-border transportation costs for enterprises.
Rectify unreasonable port fees, strengthen price supervision and inspection, further implement the port fee catalog list system and strengthen dynamic adjustments. No fees will be charged outside the list.
03 China-New Zealand Free Trade Agreement Upgrade
January 26, China-New Zealand Free Trade Agreement The trade agreement upgrade protocol was officially signed via video. The two sides have made greater openness commitments in terms of market access and expanded the coverage of most-favored-nation treatment commitments for trade in services. The upgraded protocol also significantly optimized relevant trade rules, adding rules in four areas including e-commerce, government procurement, competition policy, environment and trade.
The upgraded protocol has further improved the quality and efficiency of China-New Zealand free trade relations on the basis of the Regional Comprehensive Economic Partnership (RCEP). In the field of trade in goods, the market for some new timber and paper products will be opened to further optimize trade rules such as rules of origin, technical trade barriers, and customs facilitation. All products exported from China to New Zealand will also enjoy tax-free treatment; similarly, China will also implement tax-free measures for 97% of products imported from New Zealand.
The Ministry of Commerce stated that after the signing of the upgrade protocol, both parties will fulfill relevant domestic procedures as soon as possible so that the China-Singapore Free Trade Upgrade Agreement will take effect as soon as possible.
04 my country has granted zero-tariff treatment to 97% of Solomon Islands products.
A few days ago, the State Council’s tariff rules The Committee issued an announcement that in accordance with my country’s commitment to grant zero-tariff treatment to 97% of tax items of products from the least developed countries that have diplomatic relations with China, starting from February 1, 2021, zero tariffs will be implemented on 97% of tax items of products originating in the Solomon Islands. Involving 8281 tax items.
97% of the tax items are products marked as “Beneficiary Countries” in the preferential tax column of the “Import and Export Tariffs of the People’s Republic of China (2021)” (Taxation Commission Announcement [2020] No. 11) There are 8097 tax items in “LD1” and 184 tax items in “Beneficiary Country 1LD1”, for a total of 8281 tax items.
05 The United States imposes 15%-25% tariffs on France and Germany
The U.S. Customs and Border Protection announced that it will impose additional tariffs on some goods from France and Germany exported to the United States starting from January 12. The total value of the sanctioned goods is US$7.5 billion. According to the U.S. government’s announcement, the tariffs imposed on the EU include two categories: a 15% tariff on Airbus aircraft fuselages and wing components, and a 25% tariff on some wine products.
06 Argentina implements foreign exchange controls on imported luxury goods and specific finished products
In 2021, the Central Bank of Argentina It was announced on January 6 that importers of luxury goods and specific finished products must enter the foreign exchange market 365 days (luxury goods) and 90 days (specific finished products) after the tax payment and release of the above goods before they can enter the foreign exchange market to purchase official exchange rate U.S. dollars. Payment for goods, that is, if importers need to pay their suppliers in advance, they must first raise US dollars themselves. The above measures will take effect from January 7, 2021 (goods will be shipped from the place of shipment).
Affected luxury goods and specific finished products include: high-end cars and motorcycles, private jets exceeding US$1 million, leisure yachts, and wines exceeding US$50 per liter (such as champagne, Whiskey, spirits, etc.), fishFresh eggs and processed egg products are exempt from tariffs. Normally, the Korean government imposes tariffs ranging from 8% to 30% on imported egg products.
14 Jiangsu issued the “Implementation Opinions on Promoting High-Quality Development of Trade”
“Opinions” A total of 24 key tasks were proposed, involving stabilizing the basics of foreign trade, strengthening the industrial support foundation, optimizing the trade structure, improving the level of innovative development of service trade, developing new trade formats and models, promoting platform construction, expanding new development space, and creating a world-class 8 aspects including business environment.
The “Opinions” pointed out that by 2022, our province’s share of the country’s goods trade will be generally stable, and the proportion of imports and exports of goods with countries and regions along the “Belt and Road” will reach more than 1/4 , the proportion of private enterprises in foreign trade imports and exports has continued to increase, the scale of service trade has steadily expanded, and significant results have been achieved in stabilizing and improving the quality of foreign trade. By 2025, trade in goods and trade in services will develop in a more coordinated manner, new competitive advantages centered on technology, standards, brands, quality and services will accelerate, the trade structure will be more optimized, quality and efficiency will be significantly improved, the status of a major trade province will continue to be consolidated, and trade will Significant progress has been made in building a strong province, and high-quality trade development is at the forefront of the country.
15 Tianjin’s 28 measures stabilize the fundamentals of foreign trade and foreign investment
Recently, the Tianjin Municipal Government The General Office issued “Several Measures for Tianjin to Stabilize the Fundamentals of Foreign Trade and Foreign Investment and Promote the Innovative Development of Foreign Trade”, launching 28 specific measures from the aspects of market development, structure optimization, innovative business models, and improvement of service levels to facilitate the development of foreign trade and foreign-invested enterprises in Tianjin. Protect and protect.
Among various types of trade, the scale of general trade represents the ability of enterprises to directly participate in international trade. In this regard, Tianjin will continue to expand the scale of general trade and increase the added value of products. . Cultivate export industry clusters with complete industrial chains, complete public service systems, and obvious international competitive advantages in industries such as automobiles, bicycles, carpets, hardware, and traditional Chinese medicine. Promote the integrated development of foreign trade transformation and upgrading bases with new business formats such as cross-border e-commerce and foreign trade comprehensive services, and guide enterprises in foreign trade transformation and upgrading bases such as carpets, bicycles, musical instruments, and silk flowers to “connect” and “go online.”
16 Qingdao issued measures to promote the development of private and small and medium-sized enterprises
A few days ago, the “Qingdao Private and Small and Medium Enterprises Development Promotion Measures” were officially announced and will come into effect on March 1 this year. This is also the first government regulation in the country that applies to both private and small and medium-sized enterprises. The “Measures” formulated a number of innovative measures in terms of fiscal and taxation and financial support, entrepreneurship and innovation, market development, service guarantee and rights protection.
In terms of market development, the “Measures” encourage private and small and medium-sized enterprises to use various e-commerce platforms to develop domestic and international markets.
17 8 shipping companies raise GRI
8 major trans-Pacific eastbound container shipping The companies have updated their respective freight rates reported in FMC. Starting from February 1, 2021, the GRI has been increased by about US$1,000. Shipping companies include CMA CGM, COSCO, Evergreen, Hapag Lloyd, HMM, Ocean Network Express (ONE), Yang Ming and ZIM et al.
The freight rate adjustment (GRI) effective on February 1, 2021 is the third GRI freight rate adjustment on the East Asia/US route since 2020. </p
