Shenzhen's trade with the ASEAN totaled 378.1 billion yuan (US$57.74 billion) between January and October this year, an increase of 6.4 percent over the same period last year, and contributing 49.8 percent to Shenzhen’s total trade growth, statistics from Shenzhen Customs showed.
The growth, both in imports and exports, is 4.5 percent higher than the city’s average trade growth. In September and October, trade volume stood at 40 billion yuan a month.
Export products to ASEAN countries are diverse. They mainly include electric products and machinery, auto spares and parts, furniture, toys and garments, customs data showed.
In terms of customs facilitation, Shenzhen Customs issued credit visas under the Certificate of Origin to give priority to high-tech companies in document reviews and approvals. The measures halved the time in document reviews and helped high-tech enterprises to expand within the ASEAN market.
“The trade with ASEAN countries makes up 90 percent of our company’s business. Customs issued 1,247 copies of Certificate of Origin to our company this year and helped us enjoy 6 million yuan worth of tariff benefits from countries of destination,” manager Zhang with Shenzhen Youyuan Imports and Exports Co. Ltd. said.
So far this year, Shenzhen Customs issued 80,000 copies of Certificate of Origin, up by 24.43 percent year on year, and has helped Shenzhen enterprises enjoy 1.05 billion yuan in tariffs from countries of destination.
According to the customs’ statistical analysis office, private enterprises in Shenzhen are the major trading partners of ASEAN countries. The import-export value of local private firms amounted to 246.8 billion yuan in the first 10 months of the year, up by 8 percent, and makes up 60 percent of the total trade.