GACC Formulates Interim Measures for Supervision of Shanghai Dongfang Hub International Business Cooperation Zone

On July 18, the General Administration of Customs of China (GACC) issued the Announcement on Issuing the Interim Measures of the Customs for the Supervision of the Shanghai Dongfang Hub International Business Cooperation Zone (the “Announcement”), which took immediate effect.

The Announcement stipulates that customs shall supervise the entry and exit of personnel, goods, and articles between the business cooperation zone and both overseas and domestic non-zone areas, establishing a intelligent supervision system and facilitating customs clearance. The business cooperation zone implements closed management with facilities meeting customs requirements. Customs shall rely on an integrated information management service platform for data exchange and information sharing. Goods entering and leaving the zone are subject to trade statistics, with taxation policies implemented in accordance with State Council regulations. Enterprises within the zone are required to establish electronic ledgers, and customs will conduct audits and inspections of relevant enterprises.