Important News for International Trade with China in December 2021
1.
Release of customs import and export tariff table and LDC zero tariff table in 22
On December 15, the Tariff Commission of the State Council issued the notice of the Tariff Commission of the State Council of China on the tariff adjustment plan in 2022.
From January 1, 2022, China will implement a provisional import tax rate lower than the MFN tax rate for 954 commodities. From January 1, 2022, according to the changes of domestic industrial development and supply and demand, the import and export tariffs of some commodities will be increased within the scope of China's commitment to join the world trade organization. Among them, the provisional import tax rates for some amino acids, lead-acid battery parts, gelatin, pork and m-cresol will be cancelled and the MFN tax rate will be resumed; In order to promote the transformation, upgrading and high-quality development of relevant industries, the export tariff of phosphorus and crude copper shall be increased.
According to the free trade agreements and preferential trade arrangements signed between China and relevant countries or regions, the treaty tax rate will be implemented on some commodities originating from 29 countries or regions in 2022. Among them, China's bilateral free trade agreements with New Zealand, Peru, Costa Rica, Switzerland, Iceland, the Republic of Korea, Australia, Pakistan, Georgia, Mauritius and the Asia Pacific Trade Agreement will further reduce taxes; The regional comprehensive economic partnership agreement (RCEP) and the China Cambodia free trade agreement will enter into force on January 1, 2022 and implement tax reduction.
According to the contents of the harmonized system of commodity names and codes revised by the World Customs Organization and relevant rules of the world trade organization, the tariff items and tax rates will be technically converted in 2022. At the same time, some tariff items will be adjusted to meet the needs of industrial development and trade facilitation supervision. After adjustment, the total number of tariff items is 8930.
2.The export of copper high energy consuming products is limited
On December 15, the Tariff Commission of the State Council issued the notice of the Tariff Commission of the State Council on the tariff adjustment plan in 2022.
An important change in export tax rate is that the export tax rate of unrefined copper and copper anode for electrolytic refining is blank, which means that the export tax rate of anode copper in 2022 is 30%, which is twice the export tax rate of 15% in 2021.
China's anode copper import has rebounded significantly in recent years. In 2020, the anode copper import will be 958500 tons, with a year-on-year increase of 28.7%, while the annual export volume of anode copper will not exceed 300 tons. Therefore, the tax rate adjustment has no obvious impact on the anode copper export. However, anode copper is the finished product of copper smelting and the raw material of copper refining. If the market anode copper import increases and the export decreases, it will help copper smelting enterprises reduce energy consumption and will not affect the output of refined copper.
Please pay attention to relevant foreign trade enterprises!
3. Chittagong, Bangladesh requires shippers to use electronic payment
Bangladesh has mandated the payment of any kind of duties, fees and charges related to import and export trade through Chittagong customs (CHC) by electronic payment. CHC indicated in a notice that it would no longer accept manual payment from January 1, 2022. And said that importers and exporters will be responsible for the delay in delivery of goods caused by the failure to make electronic payment.
From July 1, Chittagong has made it mandatory to use electronic payment when the payment value exceeds US $2500, so as to provide faster services to Chittagong users. Mainly clearing and forwarding (C & F) agents make such payments on behalf of importers and exporters. Electronic payment systems are also designed to help prevent tax evasion by port customers.
Since December 1, six top shipping agents - APL Bangladesh, Maersk Bangladesh, Continental traders BD Ltd, Continental traders, Ocean International Ltd and Mediterranean Shipping Bangladesh Co., Ltd. have been required to submit delivery orders online. In the absence of an electronic bill of lading system, the representative of C & F agent will personally pick up the bill of lading at the office of shipping agent or freight forwarder in order to pick up the imported goods.
In addition, since December, the new regulations of Chittagong have been implemented, and bullet seals are mandatory for imported containers. If they do not comply, they will refuse to accept containers.
4.
Vietnamese manufacturers are subject to a surge in anti-dumping and other investigations by exporting countries
According to the statistics of Vietnam's Ministry of industry and trade, the number of trade relief cases suffered by Vietnam's export commodities is increasing rapidly. The total number of cases in 2005 was only 20, which has soared to 208 so far.
Foreign countries investigating Vietnamese exports and taking trade relief measures will have a negative impact on Vietnamese manufacturing. If high trade remedy tariffs are imposed on export goods, the competitiveness of enterprises will be reduced and the export market will be lost.
At present, Vietnam has signed, implemented and negotiated 17 free trade agreements, of which 14 have entered into force. The regional comprehensive economic partnership agreement (RCEP) is scheduled to enter into force in early 2022, which means that it will be more convenient for many foreign goods to enter the Vietnamese market, and the import tax rate will be reduced year by year according to the commitments of each FTA.
Anti tax avoidance cases against Vietnamese exports tend to increase because some countries believe that the main raw materials used in Vietnamese exports come from countries and regions that are being taken trade relief measures.
5. China Myanmar border areas can settle trade in RMB
On December 14 local time, the Central Bank of Myanmar issued a circular in accordance with Articles 17 and 22 of Myanmar's foreign exchange management law, which allows the direct use of RMB and kyat for trade settlement in the border areas between China and Myanmar.
The circular said that in order to promote the border trade between China and Myanmar, facilitate the circulation of goods, facilitate the currency transaction and settlement between the two countries, and promote the domestic currency circulation according to the goal of ASEAN financial integration, it is now allowed to directly use RMB and Myanmar currency for trade settlement in the border areas between China and Myanmar. Designated banks approved to conduct direct RMB / kyat transactions may open RMB accounts for people in the import and export industry engaged in border trade.
6. Saudi Arabia forces localized procurement of some medical supplies
Saudi Arabia's local content and government procurement authority (lcgpa) said recently that it has signed four agreements requiring the localization of the manufacturing of medical personal protection products, including medical masks, glasses and medical isolation clothes.
Officials from the government procurement Bureau of Saudi Arabia said that these transactions are expected to meet about 70% of the demand of government health authorities for these products, It can also contribute about 180 million rials (about 3.74 rials per US dollar) to GDP. This agreement aims to cope with the continuation of the new crown pandemic, supply the government's demand for the health sector, greatly improve the development efficiency of the country's purchasing power, and increase the localization of private enterprises.
7. Launch the "made in the UK, sold worldwide" program
On November 16, the British Department of International Trade issued a new strategy called "made in Britain and sold worldwide", striving to increase the export volume to £ 1 trillion by 2030. This is the first time that the UK has formulated an export strategy at the national level since brexit. The strategy includes 12 plans to support export enterprises.
In 2020, after the outbreak of COVID-19, British exports declined all the way. In the 2020 year, British exports amounted to 571 billion 700 million pounds, down 17% from the same period last year, and the import volume was 581 billion 300 million pounds, down 18% from the same period last year.