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China to Give One-year Grace Period for CBEC

Internal sources reveal that local CBEC pilot cities have been informed of the approval of a one-year grace period for CBEC retail of imports. The requirement of obtaining the Customs Clearance of Entry Commodity would be suspended for a year. 

Takehome:

Internal sources reveal that local CBEC pilot cities have been informed of the approval of a one-year grace period for CBEC retail imports. The requirement of obtaining the Customs Clearance of Entry Commodity (CCEC) would be suspended for a year. 

On 20 May, a CBEC industry insider disclosed to media that local governments have gotten the internal notice which states that CBEC commodities would not be required to apply for the CCEC before entering the warehouses within one year (click here to know more about CCEC). It means CBEC goods can still be imported almost like before instead of being subject to complicated importing requirements for general trade. The relevant authorities such as MOF, AQSIQ and GAC have not released the news yet. Stakeholder would expect for the official notice with detailes soon. 

CBEC development is in its critical period. A one year transition time means a chance of survival for many CBEC platforms. However, it’s better to make preparation as early as possible to meet pending compliance requirements. 

Reference Link

Sina news press

Tags : ChinaCBEC
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