News
The China (Shanghai) Pilot Free Trade Zone, which was officially opened on September 29, has started a fast-track customs declaration procedure on trial. If the simplified processing system works out as planned, customs clearance time will be shortened substantially and an average of 10% of logistics cost is expected to be cut.
The first pilot goods were 499 tons of electrolytic copper imports from Ulsan, South Korea, which entered the FTZ before completing the customs formalities.
