GAC Expands Pilot Program for Market Procurement Trade
Recently, the General Administration of Customs (GAC) has issued Announcement  No. 101, clarifying that the pilot program for market procurement trade will be expanded.
According to the Announcement, the scope of pilot program for the market procurement trade will be expanded to cover eight markets, including Tianjin Wanglanzhuang International Trade Center and Hebei Tangshan International Trade Center. The Announcement points out that, according to the Announcement  No. 221, the scope of application of the customs supervision mode "Market Procurement" (code: 1039) is extended to the export commodities purchased in the said markets, and matters concerning customs supervision shall be handled according to the Announcement No. 221, to regulate the management of market procurement trade. The Announcement also states that the above policy will be officially effective after the acceptance of the market procurement commodity identification system and the market comprehensive administration system covering all entities involved in the market procurement trade and the entire trade process in the pilot regions. The specific effective date will be released by customs offices of Tianjin and Shijiazhuang.