1. Further support foreign trade enterprises to expand cross-border use of RMB
2. List of pilot areas for domestic and foreign trade integration released
3. The State Administration for Market Regulation (Standardization Administration) approved the release of a number of important national standards
4. China Customs and the Philippines Customs signed an AEO mutual recognition arrangement
5. Many provinces and cities released the latest economic policies
6. The Philippines lowers import tariffs on electric vehicles and their parts
7. Malaysia releases guidelines for cosmetics regulation
8. Pakistan lifts import restrictions on some goods and raw materials
9. Egypt abolished the documentary credit system and resumed collection
10. Oman bans the import of plastic bags
11. The EU imposes temporary anti-dumping duties on Chinese refillable stainless steel barrels
12. Argentina makes final anti-dumping ruling on Chinese household electric kettles
13. Chile issues regulations on the import and sale of cosmetics
1. Further support foreign trade enterprises to expand cross-border use of RMB
On January 11, the Ministry of Commerce and the People's Bank of China jointly issued the "Notice on Further Supporting Foreign Trade and Economic Enterprises to Expand the Cross-border Use of RMB and Promote Trade and Investment Facilitation" (hereinafter referred to as the "Notice"), further facilitating the use of RMB in cross-border trade and investment in nine aspects, and better meeting the market needs of foreign trade and economic enterprises for transaction settlement, investment and financing, risk management, etc.
The notice requires that all types of cross-border trade and investment be facilitated to use RMB for settlement, and banks be encouraged to provide more convenient and efficient settlement services; banks are encouraged to carry out overseas RMB loans, and actively innovate products and services to better meet the cross-border RMB investment and financing needs of enterprises; policies and measures should be formulated according to the needs of enterprises to enhance the sense of gain of high-quality enterprises, first-time households, small and medium-sized enterprises and other entities, and support the core enterprises of the supply chain to play a leading role; rely on various open platforms such as the Free Trade Pilot Zone, Hainan Free Trade Port, and overseas economic and trade cooperation zones to promote the cross-border use of RMB; provide transaction matching, financial planning, risk management and other business support in line with the needs of enterprises, strengthen insurance protection, and improve cross-border RMB comprehensive financial services; play the guiding role of relevant funds and other funds; carry out diversified publicity and training, promote the connection between banks and enterprises, and expand the benefits of policies.
Full text of the Notice: http://kmtb.mofcom.gov.cn/article/zhengcfg/j/202301/20230103379997.shtml
2. List of pilot areas for domestic and foreign trade integration released
Based on voluntary applications from local governments, after expert review and public announcement, the Ministry of Commerce and 14 other departments have determined the list of pilot areas for domestic and foreign trade integration, including Beijing, Shanghai, Jiangsu, Zhejiang (including Ningbo), Fujian (including Xiamen), Hunan, Guangdong (including Shenzhen), Chongqing, and Xinjiang Uygur Autonomous Region.
It is understood that the "Notice of the General Offices (Departments) of the Ministry of Commerce and 14 Other Departments on the Announcement of the List of Pilot Areas for Domestic and Foreign Trade Integration" has been issued recently.
Full text of the Notice: http://www.gov.cn/zhengce/zhengceku/2023-01/11/content_5736299.htm
3. The State Administration for Market Regulation (Standardization Administration) approved the release of a number of important national standards
Recently, the State Administration for Market Regulation (Standardization Administration) approved the release of a number of important national standards. This batch of national standards is closely related to economic and social development, ecological civilization construction, and people's daily life, covering information technology, consumer goods, green development, equipment materials, road vehicles, production safety, public services and other fields.
check the details: http://www.sac.gov.cn/xw/bzhxw/202301/t20230118_350393.html
4. China Customs and the Philippines Customs signed an AEO mutual recognition arrangement
At the beginning of 2023, the "Arrangement on Mutual Recognition of Authorized Economic Operators between the General Administration of Customs of the People's Republic of China and the Bureau of Customs of the Republic of the Philippines" was signed, and China Customs became the first AEO (Authorized Economic Operator) mutual recognition partner of the Philippine Customs.
After the signing of the "China-Philippines AEO Mutual Recognition Arrangement", the export goods of AEO enterprises of China and the Philippines will enjoy four convenient measures, including lower cargo inspection rate, priority inspection, designated customs liaison service, and priority customs clearance after the interruption and resumption of international trade. The customs clearance time for goods is expected to be significantly shortened, and the port, insurance and logistics costs will also be reduced accordingly.
5. Many provinces and cities released the latest economic policies
At the beginning of the New Year, many provinces and cities across the country issued relevant documents, focusing on key tasks for the whole year.
Jiangsu Province has issued "Several Policy Measures on Promoting the Overall Improvement of Economic Operation", involving 42 policy measures in 12 aspects, aiming to boost development confidence and promote the improvement of economic operation first.
Read the full article: http://www.jiangsu.gov.cn/art/2023/1/18/art_46143_10729606.html
Guangdong Province has formulated and issued "Several Measures for Cultivating and Supporting Individual Industrial and Commercial Households in Guangdong Province", proposing 31 specific measures in six aspects, including reducing operating costs, strengthening financial support, reducing tax burdens, optimizing the business environment, expanding development space, and increasing service supply. These measures will further boost the operating confidence of individual industrial and commercial households, continuously stimulate their vitality and creativity, and inject new vitality into promoting high-quality economic and social development in Guangdong.
Full text search: http://www.gd.gov.cn/zwgk/wjk/qbwj/ybh/content/post_4086737.html
Zhejiang Province has "fully and fully" released the province's economic policies for 2023, and has formed an "8+4" policy system through systematic planning and comprehensive integration, namely, expanding effective investment, scientific and technological innovation, cultivating "415X" advanced manufacturing clusters, high-quality development of modern service industries, building a world-class strong port and a strong transportation province, expanding domestic demand and opening up to the outside world, rural revitalization and urban-rural integration development, and ensuring and improving people's livelihood. There are also four lists of factor guarantees, including finance, natural resources, energy, and talents.
Shandong Province has released the "2023 Policy List for "Stabilizing and Improving, Improving Quality with Progress" (First Batch)". This list of policies includes two parts: newly formulated policies for 2023 and policies that will continue to be implemented in 2023 from the 2022 "Stabilizing and Improving" high-quality development policy list.
Read the full article: http://www.shandong.gov.cn/art/2022/12/31/art_107851_123119.html
Shanghai officially released the "Shanghai Action Plan to Boost Confidence, Expand Demand, Stabilize Growth and Promote Development", introducing ten actions and 32 policy measures to strengthen policy coordination, policy relay and policy innovation, and continuously consolidate the momentum of Shanghai's economic recovery, with a focus on "three highlights".
Read the full article:https://shanghai.chinatax.gov.cn/zcfw/zcfgk/node92/202301/t465847.html
Henan Province issued the "Policy Measures to Vigorously Boost Market Confidence and Promote Economic Stability and Positive Development", and studied and planned 90 policy measures in six major areas, including consumption, investment, industry, market entities, foreign investment and foreign trade, and people's livelihood. While coordinating and optimizing epidemic prevention and control measures and doing everything possible to "protect health", we will strive to develop the economy, promote employment, and protect people's livelihood, improve social and psychological expectations, boost confidence in development, promote the overall improvement of economic operations, and maintain a strong momentum of rapid recovery.
6. The Philippines lowers import tariffs on electric vehicles and their parts
On January 20, local time, Philippine President Ferdinand Marcos Jr. approved a temporary modification of the tariff rates on imported electric vehicles and their parts to boost the country's electric vehicle market.
The Board of Directors of the National Economic and Development Authority (NEDA) of the Philippines approved on November 24, 2022 a temporary reduction in the most-favored-nation tariff rates for certain electric vehicles and their components for a period of five years. Under Executive Order No. 12, the most-favored-nation tariff rates for fully assembled units of certain electric vehicles (such as passenger cars, buses, minibuses, vans, trucks, motorcycles, tricycles, scooters and bicycles) will be temporarily reduced to zero for five years. However, this tariff concession does not apply to hybrid electric vehicles. In addition, the tariff rate for certain parts of electric vehicles will also be reduced from 5% to 1% for a period of five years.
7. Malaysia releases cosmetics control guidelines
Recently, the Malaysian National Drug Administration released the "Malaysian Cosmetics Control Guidelines", the main contents of which include the inclusion of octamethylcyclotetrasiloxane, sodium perborate, 2-(4-tert-butylphenyl)propionaldehyde, etc. in the list of banned cosmetic ingredients. The transition period for existing products is until November 21, 2024; the use conditions of the appendix preservative salicylic acid, UV filter titanium dioxide and other substances have been updated.
8. Pakistan lifts import restrictions on some goods and raw materials
The State Bank of Pakistan has decided to relax import restrictions on basic imports, energy imports, imports for export-oriented industries, imports of agricultural inputs, deferred payment/self-financed imports and import restrictions on export-oriented projects that are about to be completed from January 2, 2023, and strengthen economic and trade exchanges with my country.
Earlier, the SBP issued a circular stating that authorized foreign trade companies and banks must obtain permission from the SBP foreign exchange department before starting any import transactions. In addition, the SBP has also relaxed the import of several basic items required by raw materials and exporters. Due to the severe shortage of foreign exchange in Pakistan, the SBP has introduced corresponding policies that have severely restricted the country's imports and also affected the country's economic development. Now that the import restrictions on some commodities have been lifted, the SBP requires traders and banks to give priority to importing commodities based on the list provided by the SBP. The new notification allows the import of necessities such as food (wheat, edible oil, etc.), medicines (raw materials, life-saving/essential drugs), surgical instruments (stents, etc.). According to the applicable foreign exchange management regulations, importers are also allowed to import with existing foreign exchange and raise funds from abroad through equity or project loans/import loans.
9. Egypt abolishes documentary credit system and resumes collection
On December 29, 2022, the Central Bank of Egypt announced the cancellation of the documentary credit system and the resumption of processing all import operations with collection documents. In a notice published on its website, the Central Bank of Egypt stated that the cancellation decision referred to the notice issued on February 13, 2022, which stopped processing collection documents when implementing all import operations and only processed documentary credits when conducting import operations, as well as the exceptions decided subsequently.
Egyptian Prime Minister Madbouly said that the government will solve the problem of cargo backlog at ports as soon as possible and announce the release of backlog cargo every week, including the types and quantities of cargo, to ensure the normal operation of production and economy.
10. Oman bans the import of plastic bags
According to Ministerial Decision No. 519/2022, issued on September 13, 2022 by the Ministry of Commerce, Industry and Investment Promotion (MOCIIP), Oman will ban companies, institutions and individuals from importing plastic bags from January 1, 2023. Violators will be fined 1,000 rupees ($2,600) for the first offense and doubled for repeat offenses. Any other legislation that contradicts this decision will be revoked.
11. The EU imposes temporary anti-dumping duties on Chinese refillable stainless steel barrels
On January 12, 2023, the European Commission issued an announcement, making a preliminary anti-dumping ruling on refillable stainless steel kegs originating in China, and preliminarily ruled to impose a temporary anti-dumping duty of 52.9%-91.0% on the products involved.
The products involved are approximately cylindrical in shape, with a wall thickness greater than or equal to 0.5 mm and a capacity greater than or equal to 4.5 liters, regardless of the type of finish, specification or grade of stainless steel, with or without additional parts (extractors, necks, edges or sides extending from the barrel or any other parts), whether or not painted or coated with other materials, and used to contain materials other than liquefied gas, crude oil and petroleum products.
The EU CN (Combined Nomenclature) codes of the products involved are ex73101000 and ex73102990 (TARIC codes are 7310100010 and 7310299010).
The measures will take effect from the day after the announcement and will be valid for 6 months.
12. Argentina makes final anti-dumping ruling on Chinese household electric kettles
On January 5, 2023, the Argentine Ministry of Economy issued Announcement No. 4 of 2023, making a final anti-dumping ruling on household electric kettles (Spanish: Jarras o pavas electrot é rmicas, de uso dom é stico) originating in China, and decided to set a minimum export free on board price (FOB) of US$12.46 per piece for the products involved, and to impose the difference between the declared prices of the products involved and those lower than the minimum export free on board price as anti-dumping duties.
The measures will take effect from the date of the announcement and will be valid for 5 years. The Mercosur customs code of the products involved is 8516.79.90.
13. Chile issues regulations on the import and sale of cosmetics
When importing cosmetics into Chile, a certificate of quality analysis must be provided for each product, or a certificate issued by the competent authority of the country of origin and an analysis report issued by the production laboratory.
Administrative procedures for registration of cosmetics and personal care products for sale in Chile:
Register with the Chilean Public Health Service (ISP), and according to Regulation No. 239/2002 of the Chilean Ministry of Health, products are classified according to risk. The average registration fee for high-risk products (including cosmetics, body lotions, hand cleansers, anti-aging products, insect repellent sprays, etc.) is about US$800, and the average registration fee for low-risk products (including hair removers, hair removal creams, shampoos, hair sprays, toothpastes, mouthwashes, perfumes, etc.) is about US$55. The registration process takes at least 5 days and can take up to 1 month. Similar products with different raw materials must be registered separately.
The above products must undergo quality management testing in a Chilean laboratory before they can be sold. The testing fee for each product is approximately US$40-300.
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