Wuxi explains preferential import and export policies

Wuxi in Jiangsu province recently held a meeting to explain policies for enterprises at Wuxi National Hi-tech District Free Trade Zone, aiming to promote foreign trade and support the development of the open economy, local media reported on April 15.

The meeting, jointly arranged by Wuxi Customs and Wuxi Municipal Bureau of Commerce, introduced the new functions for each department of Wuxi Customs following last year's structural adjustments and gave detailed explanations on import and export policies.

The first group of policies are designed to promote enterprises' credit, speed up the transformation of Wuxi National Hi-tech District Free Trade Zone and optimize the business environment. Related preferential policies include tax breaks and special policies for the integrated circuit industry.

The second group of policies were released to help enterprises cut down on expenses and save time in procedure handling, such as simplifying items requiring administrative review and clarifying the departments' functions in inspection.