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Measures to Support Designated Businesses in Fujian FTZ

Fujian province has recently announced certain measures in support of the development of cross-border e-commerce, bonded exhibition and trading, entrepôt trade, commercial factoring, and other designated business activities.

In cross-border e-commerce, the province will promote "mobile" clearance of inbound and outbound mail, and launch express sea mail on a pilot basis. It will also speed up the construction of mail and express mail inspection facilities, support the development of cross-border retail business by mail and express mail. Customs will accelerate the import personal postal articles tax electronic levy system, and optimise retail export clearance system. Other than the necessary quarantine procedure, the inspection and quarantine department will not carry out quality inspection on outbound e-commerce goods.

In bonded exhibition and trading, support will be given to enterprises to set up bonded exhibition and trading platforms inside and outside of the FTZ. By linking up the "shops outside the zone" and "warehouses inside the zone", these platforms will gradually be developed into centres for placing orders for imported goods and storing branded goods, which is expected to expand imports. Support will be given to integrate bonded exhibition and trading with cross-border e-commerce, offering exhibition platform experience outside of the zone, on-site online mail order and bonded logistics. Support will also be given to the establishment of bonded exhibition and trading centres for cultural goods in the Fujian FTZ, carrying out research and development related to cultural and creative industries, and exhibitions, auctions and trading of cultural artefacts (products).

In entrepôt trade, support will be given to the cooperation with mainland shipping companies to expand into feeder new markets and feeder transit operations; accelerating the implementation of classified supervision based on goods status, introducing a new supervision model for less than container load (LCL) business, attracting more cargo to carry out services such as export LCL, import and distribution and re-export LCL in the FTZ; working to establish sea-rail intermodal transport supervision centre, attracting cargo from the central and western regions and surrounding areas to choose the ports of Fujian for outbound forwarding; giving full play to the advantages of the FTZ to attract multinational corporations to set up transnational commodity purchasing centre, export cargo centre, import distribution centre, and transit and distribution centre. 

In commercial factoring, efforts will be made to actively explore cooperation between commercial factoring companies and financial institutions including commercial banks to carry out innovation in financial products and models including re-factoring, asset securitisation of accounts receivable. Support will be given to commercial factoring companies to finance by way of bank loans, domestic and foreign bonds, as well as short-term and long-term foreign debt. Efforts will also be made to establish a factoring industry development fund in a bid to solve the problem of financing difficulty and high cost; as well as promote the establishment of risk-sharing mechanisms to prevent operational risk.

Content provided by Picture: HKTDC Research
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