Shenyang has recently enacted 10 regulatory service measures to promote trade facilitation, resulting in faster customs clearance times and lower import costs, according to information released by Shenyang customs.

The new policies cater to the construction needs of the Liaoning Free Trade Zone and are targeted at businesses conducting foreign trade.

The 10 newly established policies cover four aspects related to customs clearances, regulations, bonded warehousing and company services.

Highlights of the new policies include three crucial measures.

The Customs AEO Mutual Recognition Scheme, AEO being short for Authorized Economic Operator, is intended to secure and facilitate the global trade supply-chain through customs-enterprise cooperative partnership. Foreign trade businesses that qualify for the Customs AEO Mutual Recognition Scheme will enjoy the highest level of customs clearance facilitation within cooperated countries and regions.

The new certificate of origin management policy states that imported goods that have already submitted an electronic version of the certificate of origin do not need to submit a printed version, which is expected to save three to five days on customs clearance times and also save about 8 percent of customs clearance costs for businesses.

The newly launched maintenance service policy gives businesses in Shenyang an opportunity to undertake domestic and overseas maintenance services, which is expected to aid processing and manufacturing businesses to conduct high added value business, achieving transformation and upgrading of industry.