THE value of trade cargo handled by the Shanghai customs for the first time surpassed the US$800 billion mark last year, hitting $812.3 billion, 18.6 per cent more than in 2010, Xinhua reports.

    Customs collected CNY352.7 billion (US$56 billion) tariff last year, up 33.7 per cent over 2010.

    Last year, customs widened the pilot application of simplified declaration procedure to 23 companies. Companies participating in the pilot programme of cross-border yuan settlement increased to over 6,000. Meanwhile, trans-regional customs clearance cooperation partnerships extended to 24 provinces and cities.

(Source:Shippingazette)