Good News On Foreign Trade

The Standing Committee of the National People's Congress issued a decision on amending the Foreign Trade Law of the People's Republic of China on December 30, 2022.

The revised "Foreign Trade Law of the People's Republic of China" deletes Article 9.

Foreign trade dealers engaged in the import and export of goods or technologies shall register for the record with the authority in charge of foreign trade under The State Council or the institution entrusted by it. However, except those that are not required for record registration as stipulated by laws, administrative regulations and the authority responsible for foreign trade under The State Council. The specific measures for archival registration shall be formulated by the authority responsible for foreign trade under The State Council. If a foreign trade dealer fails to register for the record in accordance with relevant provisions, the customs shall not handle the formalities of declaration, inspection and release of import and export goods.

Since then, enterprises engaged in import and export business will no longer go through the registration formalities of foreign trade managers, and they will automatically obtain the import and export right, but they still need to deal with the following matters:

1.Customs record

2. Electronic port card

3. Registration of goods in foreign exchange

In addition, all units should pay attention to:

1. The business scope still needs: [import and export of goods]

2. The above customs registration certificate, foreign exchange registration, bank foreign exchange account opening and e-port card application still need to be handled.

“Foreign Trade Law of the People's Republic of China”

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