Ministry of Commerce and General Administration of Customs, Announcement [2008] No.97

商务部、海关总署公告2008年第97号

December 18, 2008 | BY

clpstaff &clp articles &

Real deposit account system for the processing trade postponed.

Clp Reference: 5800/08.11.21 Promulgated: 2008-11-21 Effective: 2008-12-01

Issued: November 21 2008
Effective: December 1 2008
Applicability: The administrative measures for commodities in the restricted category shall not apply to customs special supervision zones such as export processing zones and bonded zones (Article 6).

The provisions on new enterprises and change of business in Ministry of Commerce and General Administration of Customs, Announcement [2007] No.44 shall cease to apply (Article 8).

Main Contents: There are three main changes in the new Announcement:

(1) removal of 17 commodities in the furniture category from the Catalogue for Commodities in the Restricted Category for Processing Trade;

(2) suspension of the application of the real deposit account system on all export commodities (1,853 Harmonised System (HS) codes), and fine gauze products (260 HS codes), palm oil (4 HS codes), sugar (8 HS codes) in the category of import commodities, i.e. a total of 2,125 commodities with ten-digit HS codes listed in the Catalogue for Commodities in the Restricted Category for Processing Trade appended to the Ministry of Commerce and General Administration of Customs, Announcement [2007] No.44; and

(3) with respect to processing trade of the remaining 122 commodities with ten-digit HS codes in the restricted category of import commodities, type-A enterprises shall be subject to the administration of keeping a nominal bank account without actually providing any deposit and the previous real deposit account system shall be suspended, and type-B enterprises shall be subject to the real deposit account system and provide a 50% deposit while type-C enterprises shall provide a 100% deposit.

Related Legislation: Ministry of Commerce and General Administration of Customs, Announcement [2007] No.44 (Catalogue for Commodities in the Restricted Category for Processing Trade), Jul 23 2007, CLP 2007 No.7 p.23

clp reference:5800/08.11.21promulgated:2008-11-21effective:2008-12-01

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