Cross-border trade renminbi settlement does not affect the speed of customs clearance of import and export enterprises

At 15 o'clock on August 24, 2009, Li Bo, Director of the Law and Man's Bank of China, Zheng Jianxin, Deputy Director of the Department of Taxation of the Ministry of Finance, Xu Jiaai, Deputy Director of the Finance Department of the Ministry of Commerce, and Li Wei, Deputy Director of the Supervision Department of the General Administration of Customs. Wang Zhenhua, deputy director of the Department of Goods and Services Tax of the State Administration of Taxation, and Wang Kejin, deputy director of the Policy and Regulation Department of the China Banking Regulatory Commission, accepted an exclusive interview with the Chinese government network to interpret and answer questions from netizens on the “steady promotion of cross-border trade settlement of RMB.”

Will the cross-border trade RMB settlement pilot work affect the customs clearance speed of import and export enterprises?

Cross-border trade renminbi settlement will not affect the customs clearance speed of import and export enterprises. Because the customs provides the corresponding convenient customs clearance services, the procedures are simplified, and the customs clearance speed will be accelerated. We believe that cross-border RMB settlement can bring the following benefits to the company:

First, to avoid exchange rate risks, the renminbi is China's main currency. Under the current international financial crisis, cross-border trade renminbi settlement can help China's import and export enterprises to avoid exchange risks in the international trade market. Second, speed up customs clearance. Since the Customs has revised the logic control parameters of the customs clearance management system (H2000), it can directly declare in RMB at the time of declaration, which can simplify customs clearance procedures. Just now I also said that I do not include foreign exchange write-offs, do not need to provide foreign exchange verification forms, and do not need to go to the customs to print export goods declarations for foreign exchange certificates. The third benefit to the company while simplifying the process is to reduce customs clearance costs.

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