Shandong fuels cross-border e-commerce development

(| Updated : 2021-12-21

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East China's Shandong province has been ramping up efforts to encourage cross-border e-commerce and other new business types and models to grow even quicker to foster new drivers of foreign trade, local media reported.


Customs officers verify documentation related to foreign trade containers at an international container terminal of Yantai Port in Shandong province on Oct 12. [Photo by Tang Ke/for China Daily]

"We received more than 40 million yuan ($6.28 million) in export tax rebates in a working day. The abundant working capital is invested in product research and development and market development, which enables us to implement an internationalization strategy," said Zhang Daiming, chairman of Shandong Xinhua Pharmaceutical Co.

Zhang said that the average time needed for enterprises to apply for export tax rebates has been reduced to 3.8 working days, providing strong capital support for enterprises to revitalize funds.

Shandong has been further streamlining administration and delegating powers, and developing new methods of regulation and supervision to improve its business environment.

The province's departments of commerce, customs, ports and taxation are making joint efforts to promote cross-border trade facilitation and optimizing procedures for customs clearance, tax refunds and foreign exchange to support the steady and sound development of foreign trade enterprises.

Seven cities in Shandong province have become national comprehensive testing areas for cross-border e-commerce. It has cultivated and identified more than 200 provincial cross-border e-commerce entities, and more than 10,000 traditional foreign trade enterprises in the province have realized new development with the help of cross-border e-commerce.