Qianhai Bonded Port Pushes for more Cross-Border E-Commerce Trade Deals
Lightinthebox.com branch in Shenzhen was able to clear goods valued at US$50,000 in the Qianhai Bay Bonded Port after completing exchange settlements in which they were also able to obtain 30,000 yuan in tax rebates from government agencies for all the deals that were made in the same day. This marks the beginning of an efficient cross border e-commerce trade in the area.
Before e-commerce firms in the city accounts for at least 40 percent o the country’s total in which these firms had to travel to other cities to do exchange settlements and Shenzhen was not among the pilot cities that was covered under the cross border e-commerce trade. Furthermore these firms didn’t get any tax rebates for deals made on the same day since the goods were sent abroad as ordinary express parcels and were not declared. And with the help of Qianhai’s preferential policies for export and customs, the Qianhai authorities tested out the first cross border e-commerce trade in December and earlier this month that made it possible for firms in Shenzhen to obtain tax rebates for the cross border deals.
These also reduced the costing and time that was needed to do cross border e-commerce trade. One company tried the by sending goods to Qianhai Bay Bonded Port at 2 pm then the shipment was able to leave the port by 5 pm and arrived at the Hong Kong airport at 7:30 pm. The transaction took less than three hour to complete including custom clearance, sorting, unloading and loading. A slow global trade allowed opportunities in the cross border e-commerce to develop rapidly in the past years and along with a increase in the number of Chinese manufacturers which recently started to sell their products to foreign consumers online. This pushed the cross border transactions to increase by 31 percent compared to a year ago.