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Commerce Ministry Rolls Out Seven Measures to Support Border Trade

The Department of Foreign Trade of the Ministry of Commerce recently announced seven policies to increase support and guidance for innovation and development in border trade, as well as offer tax and fiscal support to businesses and optimise the business environment. The policies include:  

  • Adjusting and improving the functions of border trade zones and encouraging their diversified development
  • Implementing the policy of VAT exemption in the absence of valid purchase vouchers and simplifying the declaration process for small-scale border trade exports on a trial basis
  • Improving and enhancing the method of support through fiscal transfers
  • Supporting the development of border (cross-border) economic cooperation zones and key pilot zones for development and opening up
  • Fostering the development of border trade commodity markets and trading centres
  • Developing new models of e-commerce suited to border trade
  • Making innovations to optimise border trade financial services and improve the business environment for the development of border trade

Source: Ministry of Commerce

Content provided by Picture: HKTDC Research
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