China to streamline Yangtze River customs clearance

Authorities are mulling commodity trading platforms at the Shanghai trade zone to attract international investors to participate in commodity trading and seek a greater say in pricing.

Chinese Premier Li Keqiang in late April called for the creation of an "economic belt" along the Yangtze to promote better coordination in industrial development and more efficient allocation of resources among up to 11 provincial regions traversed by the river.

These regions on the so-called "economic belt" are home to more than 40 percent of China's population and contribute 40 percent of the nation's economic output.

GAC spokesman Zhang Guangzhi said on Monday that the administration is working to make cargoes clear at customs checks along the Yangtze more easily.

Zhang added that broader reform to improve customs clearance in the 11 provinces will be enacted soon. Shanghai has cooperative mechanisms with upstream provinces and western Chinese economic hubs like Chengdu and Chongqing. These mechanisms will expedite cargo movement among bonded areas and cut red tape.

The GAC also announced a package of measures to stimulate trade last week. These measures span from removing administrative barriers to promote customs integration to streamlining procedures and realigning regulations covering an increasingly diverse range of trades.

Customs reform benefits free trade zone enterprises	Customs duties to be adjusted