Want to be in the loop?
subscribe to
our notification
Business News
FREE TRADE AGREEMENT TRANSHIPMENT FACILITATION SCHEME
At present, under relevant free trade agreements (FTAs) signed by Mainland China with other economies, consignments are generally required to be shipped directly between Mainland China and its FTA signatories so as to enjoy tariff reduction. However, consignments routing through a third place shall be regarded as direct consignment and be eligible for tariff benefits under certain circumstances, in particular, if they remain under the control of Customs or other designated parties of the third place. Under the FTA Scheme, the C&ED of HKSARG has extended certain existing customs facilitation measures to cover all FTAs of Mainland China. Specifically, C&ED will provide facilitation services and issue certificates under conditions agreed with the relevant authorities for goods passing through Hong Kong, so as to allow traders to benefit from the tariff reductions under respective FTAs signed by Mainland China.
As far as the Association of Southeast Asian Nations (ASEAN) is concerned, the FTA Scheme covers transhipment cargo in Hong Kong heading for Mainland China under the following three agreements:
• Framework Agreement on Comprehensive Economic Co-operation between the ASEAN and the People's Republic of China
• The China-Singapore Free Trade Agreement
• The Asia Pacific Trade Agreement
Pease click here for an information note on the FTA Scheme (including a full list of FTAs covered) . For more details of the FTA Scheme, please visit the following web page: http://www.customs.gov.hk/en/trade_facilitation/fta/index.html.
Should you have any enquiry about the FTA Scheme, please contact C&ED via email: fta_enquiry@customs.gov.hk or telephone: (852) 3152 0233.
Source : Information provided by HKETO
Related News
REVISING VIETNAM'S ECONOMIC STRATEGY FOR NEW ERA
The period of 2024-2025 is important as Vietnam completes its 2021-2025 development plan. Revising economic strategies and policies to address climate change and global uncertainties is an extremely important task.
FOREIGN INVESTMENT ROOM DELIVERS MIXED PICTURE AT BANKS
While the foreign ownership limit at several top-tier banks has almost reached its cap with a desire for further expansion, other banks have significant room for international investment. Among the 27 listed commercial banks, 14 have foreign ownership rates exceeding 15 per cent of their charter capital.
DRIVING SUSTAINABLE IP DEVELOPMENT TO ATTRACT STRATEGIC INVESTORS
As a result, major strategic investors like Honda, Toyota, Samsung and Signetics have explored opportunities in Vinh Phuc, offering support for energy cooperation, "Net Zero" commitments, and green investment to boost sustainable development and add value to the local economy.
INNOVATING TECH INFRASTRUCTURE TO ENHANCE BANKING SECURITY
Vietnam's banking technology infrastructure has advanced significantly, improving performance and meeting customer needs in the digital age. However, further innovation is needed to sustainably grow and meet rising market demands.
SINGAPORE CRACKS DOWN ON ILLEGAL LENDING OPERATIONS
Preliminary investigations reveal that five individuals are accused of harassment and intimidation of borrowers, while 40 others are suspected of aiding loan sharks through ATM transactions. Another 50 suspects allegedly assisted illegal lenders by opening and using their personal bank accounts.
DRIVING SUSTAINABLE IP DEVELOPMENT TO ATTRACT STRATEGIC INVESTORS
As a result, major strategic investors like Honda, Toyota, Samsung and Signetics have explored opportunities in Vinh Phuc, offering support for energy cooperation, "Net Zero" commitments, and green investment to boost sustainable development and add value to the local economy.