On 8 October 2014, the General Administration of Customs (GAC) issued the Provisional Measures on Credit Management of Enterprises Under order No. 225, effective from 1 December 2014, which substantially revises the existing enterprise classification system provided for under the Measures on Classified Management of Enterprises, Order (2010) No. 197. The most significant aspects of order No. 225 are summarised below.
New classification system
Under the previous order No. 197, enterprises were classified under one of five categories based upon their compliance track records. Those enterprises with the best compliance ratings were classified under category AA, while those with a poor compliance record with customs were classified under category D. These classifications are focused primarily upon customs compliance and duty collection. As a result, the existing categories do not align closely with the World Customs Organisation’s Framework of Standards to Secure and Facilitate Global Trade (SAFE) and authorised economic operator (AEO) programme.
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Business Law Digest is compiled with the assistance of Baker & McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mailing Danian Zhang (Shanghai) at: danian.zhang@bakermckenzie.com
