16 February 2023

China lifted the registration requirements for foreign trade activities

If you are conducting foreign trade activities in China or seeking to get engaged, it is good to know that you are no longer required to prepare extensive registration materials to apply for import and export licenses. China lifted the registration requirements for foreign trade activities, according to the Ministry of Commerce. China’s Foreign Trade Law was amended on 30 December 2022 by the National People’s Congress. The Congress removed Article 9 from the Foreign Trade Law, which required foreign trade operators to complete record filing and registration.

Lifting the registration requirements simplified the procedure of import and export. Before 30 December 2022, Article 9 required “foreign trade operators engaged in the import and export of goods or technology to complete record filing and registration”. After the amendment, foreign trade operators automatically get the right to import and export. No need to apply for import and export licenses, registration certificates, and other relevant documents any more.

The simplified procedure will speed up the process and lower the barriers of conducting foreign trade activities in China. It will certainly shorten the waiting time for starting up the import and export business, thus reducing the costs for foreign trade operators.

Considering that China removed the travel restrictions 8 days after lifting the registration requirements, it is not difficult to see that China is making an effort to reopen the border to the world and attract foreign investors. According to the ministry, lifting the registration requirements is one of China’s efforts to “promote trade liberalization” and “release the potential for foreign trade growth.”

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If you need further information, please do not hesitate to contact our Asia team or Ye Yu.

Author

Y. (Ye) Yu

Director Asia Desk

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