More Efficient Customs Clearance and More Preferential Policies -- Cross-border Trade Quality of Guangxi Improved and Upgraded

NANNING,China,March 14,2023 --Right now,at the Youyiguan Port in Pingxiang City,Guangxi,trucks loaded withgoods are crossing the China-Vietnam border. With the optimization andadjustment of entry-exit policies this year,this major trade corridor linkingChina to ASEAN and the rest of the world has returned to its previous bustlingand vibrant atmosphere.

Due to climate differences,fruits from ASEAN countries such as Vietnam andThailand ripen earlier,and for China,March is the peak season for fruitimports. Fruits are perishable goods,posing high requirements on logisticstransportation,warehousing and customs clearance. According to Huang Feifei,the chief of Youyiguan Customs Supervision Section I,"While administeringstrict inspections,the Customs also implements measures such as 'greenchannels' for imported fruits,'7*24 hours' pre-booked clearance,and rapidlaboratory testing,which substantially shorten customs clearance time forASEAN fruit imports."

In recent years,Guangxi has vigorously supported the infrastructureconstruction of key border ports,including more inspection checkpoints andlarger cargo transfer sites. At the Youyiguan Port,it only takes around aminute or even less for trucks to pass through the checkpoint. According to XiaGaofeng,Director of Chongzuo Foreign Affairs and Commercial Port Bureau,"Wehave implemented a series of reform measures such as one-stop customsclearance,fully information-based intelligent customs clearance,'advancereview and clearance of import and export goods,and checkpoint inspection andrelease',resulting in a significant reduction of time for vehicle customsclearance."

The improvement of customs clearance efficiency has genuinely unleashed thepotentials of the port,while Guangxi's border financial reform has providedgreat convenience for cross-border trade. In the China (Dongxing Pilot Zone)ASEAN Currency Business Center,just a few steps away from Dongxing Port,agiant electronic screen displays the official exchange rate of RMB to VDN.Today,the area has realized the currency exchange between RMB and VDN usingdirect quote.

Financial reform along the border has benefited the people of both China andVietnam,and cross-border trade has become more prosperous. In recent years,financial institutions such as Bank of Guilin have successively carried outcross-border transfer of RMB and VDN banknotes,and cross-border finance hasgradually expanded from merely a transaction settlement business to multiplefields.

Wang Yunxiao,Vice President of Guilin Bank said,"We have also launchedspecial border prospering and enriching financing products such as 'HuibianLoan','Hushi Loan' and 'Bianyi Loan' to meet the financial needs of borderresidents engaged in cross-border trade,enterprises engaged in processing ofimported materials,and purchasers."

Guangxi's excellent border infrastructure is a guarantee for the rapid recoveryof cross-border trade. The upgrading of border power grid has led to a leap inpower supply capacity; the acceleration of the construction of bordercommunication infrastructure has basically realized 4G network coverage; theconstantly improving highway network,and the increasingly smoother logisticschannels,and the like. The infrastructure of Guangxi's border has beenveritably enhanced due to the concerted efforts of multiple parties.

According to Wu Xiaohui,Executive Deputy Director of the Chongzuo DistrictManagement Committee of China (Guangxi) Pilot Free Trade Zone,Pingxiang has 13cross-border railway trains and 22 cross-border highway logistics lines,capable of reaching more than 20 major hub cities in ASEAN countries,withlogistics network covering the Indo-China Peninsula.

In order to facilitate investment,trade,cross-border capitals,andtransportation,the People's Government of Guangxi Zhuang Autonomous Regionrecently issued a multi-pronged plan to further promote the deepening ofreforms and advance opening-up efforts.

Bai Lan,the Full-time Deputy Director of the Office of China (Guangxi) PilotFree Trade Zone,introduced that the plan calls for the Guangxi Free Trade Zoneto fully implement the pre-establishment national treatment plus negativemanagement system list,and establish an operational and post-operationalsupervision management system that is compatible with the negative listmanagement method,while promoting the opening-up of telecommunications,theInternet,education and other fields in an orderly manner,as well as thevigorously development of new forms and models of foreign trade such ascross-border e-commerce,offshore trade,and digital trade.

In addition,in terms of open development and exploration and innovation,theChina (Guangxi) Pilot Free Trade Zone will hasten the exploration ofinstitutional opening-up,create a Regional Comprehensive Economic PartnershipAgreement (RCEP) demonstration projects cluster implemented as per high standards,benchmark against the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) rules,and carry out pilot trials and riskstress tests in key areas such as trade in services,financial opening,anddigital economy.