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Zhanjiang Customs recently carried out an activity to cultivate more AEO enterprises in Zhanjiang and Maoming, which are within customs jurisdiction. More than 40 key enterprises from the two cities in Guangdong province with good credit were invited to the activity.
AEO refers to authorized economic operator. AEO enterprises can enjoy a series of conveniences in China, such as lower inspection rates, priority to deal with clearance of import and export goods, fewer customs inspections, and exemption from guarantees. They can also have more convenience in customs clearance provided by countries and regions that have signed AEO mutual recognition agreements with China.
An official from Zhanjiang Customs issues an AEO certificate to an enterprise. [Photo/Zhanjiang Daily]
In-depth interpretation was provided to the AEO system by Zhanjiang Customs during the activity to help enterprises take the initiative to apply for a higher credit rating and make good use of the system.
"After obtaining AEO certification, my company got the reduction or exemption preferential on processing trade margin account, saving at least 9 million yuan ($1.31 million) of working capital annually," said Quan Naijun, manager of the customs department of Zhanjiang-based Guangdong Fitone Latex Products Co Ltd.
"With the strong support of Zhanjiang Customs, the company has given full play to the advantages of AEO certification, and its export volume from January to August this year has increased by 300 percent," Quan said.
To date, 57 enterprises in Zhanjiang and Maoming have obtained AEO certification.