On October 16, Zhengzhou Customs officially awarded Zhengzhou Baojufeng Industry Co., Ltd. (Baojufeng) Advanced AEO Certification upon the approval of the General Administration of Customs, meaning that Baojufeng has obtained the qualification of advanced certification enterprise of customs that offers it favorable and faster customs clearance procedures in import and export goods. It is also the only foreign trade comprehensive service platform enterprise in Henan Province that has obtained the advanced certification.
Baojufeng wins AEO Certification, the most valuable permit for customs
On October 16, the awarding ceremony of Advanced AEO Certification for Baojufeng was held in ZAEZ. Among the attendees were Zhengzhou Customs, the Commerce Bureau and Taxation Bureau of ZAEZ, and other relevant agencies. So far, one more Henan enterprise wins the Advanced AEO Certification.
It is understood that Advanced AEO Certification regulations are the most stringent regulations in the history of customs enterprise certification. Up to now, the number of enterprises that have passed advanced certification nationwide accounts for less than 1% of the total number of import and export enterprises. In the meantime, Advanced AEO Certification is also a partner access condition for some leading enterprises, and passing Advanced AEO Certification will greatly enhance the corporate image and operation ability.
Reporters from the Dahe Cailifang of Dahe Daily learned from Zhengzhou Customs that there were 457 certification enterprises in Henan Province by the end of August 2018, including 53 advanced certification enterprises and 404 general certification enterprises.
“Advanced AEO Certification represents the highest level of customs pass for international trade”, saidHe Fang, Director of Zhengzhou Customs Inspection Office. The Advanced AEO Certification is directly connected with the international customs. The imported and exported goods of enterprises that have obtained the certificate which are inspected by Chinese customs may not be subject to inspection of foreign customs in principle. In simple worlds, for international trade enterprises, Advanced AEO Certification is like a “VIP Pass” for international trade.
Established on October 17, 2016, Baojufeng is an industrial comprehensive operation service provider anda tertiary holding enterprise under ZAEZ Xing Gang Investment Group. According to its General Manager Tian Pengbo, Baojufeng’s import and export business currently accounts for more than 90% of the total business volume. In the first three quarters of 2018, Baojufeng completed its import and export business volume of USD 542 million, including USD 450 million from export. Advanced AEO Certification is in line with Baojufeng’s strategic development direction.
After passing AEO certification, Baojufeng obtains more favorable policies for customs clearance. It will be provided with a variety of customs clearance convenience measures including “clearance free of guarantee, lower inspection rate for import and export goods, and no bank deposit account system”, allowing it to achieve mutual benefits with 35 countries and regions worldwide.
Advanced AEO Certificate, VIP Pass for International Trade
What exactly is Advanced AEO Certification?
It is understood that AEO standards for Authorized Economic Operator. It is the highest honor of trustworthyenterprises in customs and a well-recognized international customs clearance “pass” with great influence. In China, AEO enterprises include advanced certification enterprises and general certification enterprises.
To date, China has reached mutual recognition agreements or arrangements with 35 countries and regions including the European Union, Singapore, South Korea, Switzerland, New Zealand, Israel and Australia, and has promoted the mutual recognition cooperation with countries and regions
This means that enterprises with the advanced certification will enjoy preferential customs clearance policies such as “fewer inspections, faster customs clearance and simpler procedures”. With the advantage of mutual recognition by AEO, enterprises in eight major economies and 35 countries and regions in the world will also have a VIP card for customs clearance and enjoy the privilege of trade facilitation.
As indicated by relevant data, when the goods of China’s certified enterprises are exported to mutual recognized countries, the inspection rate is reduced by 60% to 80%, and the customs clearance time and cost are reduced by more than 50%.
However, Great influence makes it one of certificates that cannot be easily obtained. These standards mainly involve internal control of enterprises, financial status, law compliance and trade safety. The AEO enterprises will be regarded by the customs as the honest, law-abiding and safe enterprises, which will be given the greatest convenience in customs clearance.