您当前的位置 :English > Business > Biz News 正文
Shenyang customs launches tariff guarantee scheme
source: Shenyang Municipal Bureau of Foreign Trade & Economic Cooperation  2018-11-16 14:51

The customs district of Shenyang, Liaoning province has recently launched a new system to encourage banks to partner with insurance companies, enabling them to reduce their financial exposure.

The new system will introduce a tariff guarantee scheme, with insurance companies providing warranties to banks, thus reducing the risks to banks that lend money to companies importing and exporting goods through Shenyang.

Small and medium-sized companies often rely on short-term financing to pay customs tariffs incurred at the border, but many find loans difficult to access due to their small size.

But with the new scheme, more of them will be able to clear customs without waiting -- leaving them with 30 days to pay any customs duties.

Under the new initiative, goods should be able to clear customs within a matter of minutes, benefiting businesses and securing government tax revenues.

Editor: zfw05