George Cabinetry Welcomes You in 2023
Over the past three years, people worldwide have suffered from COVID-19 and its bad effects – forcing us to restrict import and export trade. For importers, some specific categories of goods were limited from exporting by other countries; For exporters, the workforce shrinkage significantly increased the time cost and further affected transportation, logistics, warehousing, and other supporting industries.
Despite a certain impact on foreign trade imports and exports in the short term, China’s foreign trade development is resilient, and the market development capabilities are also very strong.
According to data from China’s General Administration of Customs, China’s cross-border e-commerce (hereinafter referred to as CBEC) reached an average annual incremental growth of 40%. With the gradual opening of entry and exit restrictions in 2023, CBEC stands at a new node, facing broader opportunities and challenges.
The scale and growth rate of China’s foreign trade in goods during the early period of the pandemic, based on data from customs.gov.cn
As the global pandemic is ending, China is strengthening trade promotion, fully supporting foreign-trade enterprises to strive for orders and expand the market. Let me summarize China’s CBEC trends and industry policies in 2023.
What Benefits Can We Get from Foreign-trade Policies in 2023?
"Zero Tax Burden"
According to the announcement that came into force in February on the taxation policy for returned goods, CBEC export refund goods that meet the requirements are exempt from import tariffs and import links VAT, consumption tax, and export duties. Export duties levied are also permitted to be refunded.
In other words, if the goods exported by CBEC enterprises are returned to the country again, the export duties that have been previously collected will be refunded. After the policy liberalization and lifting of the customs embargo, international logistics resumed normal, and CBEC sellers’ costs returned to manageable.
Thus customers spend less time receiving their goods. The convenience of the policy has contributed to the acceleration of customs clearance, to a certain extent, to ensure the smooth clearance of cross-border export goods.
China Cross-Border E-Commerce Comprehensive Pilot Zones
A new group of China Cross-Border E-Commerce Comprehensive Pilot Zones will be founded on a larger scale across the country, especially in areas with good e-commerce infrastructure conditions and great potential for import and export development.
Cross-Border E-Commerce Comprehensive Pilot Zones are encouraged to explore new standards for innovative technologies in payments, logistics, customs clearance, tax refunds, foreign exchange clearance, and other links, greatly accelerating the development of China’s foreign trade industry. They use a specific management model, giving special policy preferences to achieve more facilitated cross-border e-commerce trade.
Foreign-trade Advantages of Foshan, Guangdong
Foshan is located in the south-central region of Guangdong Province, the hinterland of Pearl Jam Delta, leaning on Guangzhou city in the east, close to Hong Kong and Macao. With these geographical advantages, Foshan develops well in transportation and domestic and foreign trade. Because it is close to Guangzhou, the provincial city, and another famous developed city Shenzhen, Foshan enjoys the profit sharing of talents, transportation, and business needs.
Foshan has a solid manufacturing foundation and a relatively sound industrial system, making it an important manufacturing city in China. Commercial exhibitions like CHFE (China International Housing and Furnishing Expo) are held annually in Foshan.
In the meantime, the workforce is gradually being restored, and the nucleic acid test has been canceled nationwide. People no longer have to show the health code to move between two areas, so it is far more convenient for you to visit Foshan to attend all exhibitions with the relaxation of entry and exit conditions.
Welcome to George Cabinetry!
As Foshan’s one-stop shop building materials supplier with professional guidance and experience, George Building provides consultancy, design, and building materials for your residential, real estate & hospitality projects worldwide. Belonging to George Building, George Cabinetry is a leading custom cabinet manufacturer in China with over 16 years of experience.
Our Cabinetry is the 1st option for building contractors, construction companies, property developers, and house owners. It is our pleasure to receive your orders from abroad! You are welcome to join our exhibition hall in Foshan, to see and pick up your favorite product.
Contact us if you are interested:
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