Cangzhou Introduces "Whitelist" System to Boost Cross-Border E-Commerce Growth

Deep News
1 hour ago

The Commerce Bureau of Cangzhou, together with other government departments, has recently released the Implementation Plan for the Whitelist System for Cross-Border E-Commerce Enterprises in Cangzhou. This initiative is designed to guide cross-border e-commerce companies toward compliant and transparent operations, while also facilitating the expansion of local specialty industries into international markets through cross-border e-commerce channels.

Enterprises that meet the whitelist criteria are eligible for benefits in four key areas: customs clearance, taxation, foreign exchange, and financial support. In terms of customs clearance, whitelisted companies can take advantage of streamlined procedures tailored to different export models, such as the "inspect before loading" operation mode, priority handling for inspections and customs formalities, as well as expedited processing for zone entry verification and exit procedures. Eligible export goods may also benefit from remote location-based inspections or scheduled on-site inspections.

Regarding taxation, whitelisted companies will be prioritized as the first batch of applicable entities in national and provincial pilot programs for cross-border e-commerce tax incentives. Depending on their export model and specific circumstances, these companies may also qualify for policies such as the "invoice-free tax exemption" in comprehensive pilot zones and exemption from value-added tax on exports.

On the foreign exchange front, small and micro cross-border e-commerce enterprises with an annual cumulative goods trade receipt or payment amount below the equivalent of USD 200,000 (exclusive) may be exempted from the requirement of foreign exchange registration when conducting goods trade foreign exchange transactions using electronic transaction information. Furthermore, cross-border e-commerce companies can settle expenses incurred overseas—such as warehousing, logistics, and taxes—on a net basis against their export proceeds, while properly filing the corresponding actual receipt and payment data as well as reconciliation data. For goods sold through overseas warehouses, the actual sales revenue remitted back may differ from the declared export value of the corresponding goods. After verifying the authenticity and reasonableness of the transactions, banks may advance payments on behalf of cross-border e-commerce platform enterprises for related overseas expenses such as warehousing, logistics, and taxes. These advanced payments are generally not to exceed 12 months, and any extension beyond that period must be reported to the local foreign exchange authority.

In terms of capital and financial support, special funds will be allocated on a priority basis for whitelisted enterprises' projects related to cross-border e-commerce, overseas warehouse construction, and online brand promotion. These companies will also receive additional scoring support when applying for and competing in central, provincial, and municipal foreign trade and economic development funds (specifically for the cross-border e-commerce category), as well as priority recommendations for relevant provincial and municipal cross-border e-commerce support policies. Financial institutions are also encouraged to develop innovative credit-based financing products using export data from whitelisted enterprises, and to facilitate low-interest or collateral-free credit loans and other financial services.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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