Xinhua Silk Road: Longkou Customs helps enterprises to achieve high-quality development

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BEIJING, July 3, 2023 /PRNewswire/ — Longkou Customs has rolled out a string of measures and introduced innovative supervision and facilitation services to enhance the steadiness and quality of foreign trade in Longkou of east China’s Shandong Province since the beginning of this year, according to sources with Longkou Customs.

On June 25th, COFCO Oils & Oilseeds (Longkou) Co. initiated its first batch of 22,000 tonnes of soybeans in the production line. This represents the company’s maiden venture into soybean processing trade as an operational unit.

The company, under the guidance of Longkou Customs, has successfully achieved the Customs Authorized Economic Operator (AEO) Advanced Certification, becoming the pioneer for such an accomplishment in COFCO group’s northern sector. This achievement amplified the company’s goodwill and customer trust, enabling it to secure international clientele and kickstart its soybean processing trade endeavors.

Moreover, Longkou Customs, considering the AEO senior certification’s credit standing, waived over 20 million yuan of the company’s processing trade manual deposit following a risk assessment. Consequently, the company processed 267,000 tonnes of soybeans in the first five months of this year, marking a 26.3 percent year-on-year increase.

Longkou Customs also deployed a special team to supervise the Yulongdao Refining and Chemical Integration Project. It offers services like “off-site entrusted inspection” and tax guarantee release, saving costs for businesses. In the first five months of this year, over 690 million yuan worth of equipment imports for the Yulongdao project were overseen, saving some 20 million yuan of capital costs and reducing taxes by more than 27 million yuan through the Regional Comprehensive Economic Partnership (RCEP) tariff concession policy.

In the emerging car carrier market, Yantai CIMC Raffles Ocean Technology Group (CIMC Raffles) is constructing a low-emission ro-ro vessel ordered from Norway, boasting environment-friendly features. The company currently has 13 such orders, with production schedules extending to 2026, promising an annual output value exceeding 2 billion yuan.

To facilitate the construction of these vessels, Longkou Customs has adopted the “inspection by appointment and inspection on arrival” methodology. This streamlined process, along with the establishment of a “green channel” for customs, paves the way for securing new orders and seamless construction.

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