1. From August 1st, the customs declaration will be changed significantly.
On June 27, Yibang Power was informed that the General Administration of Customs issued two announcements No. 60 and No. 61 to further standardize the declaration and delivery of import and export goods and consignees, and announced that from August 1 this year, import and export The customs declaration made a major change.
The General Administration of Customs has revised the "Regulations for the Customs Import and Export of Customs Import and Export Commodities of the People's Republic of China" (Announcement No. 13 of the General Administration of Customs, 2017). This is an important change after the new regulations for customs declarations. The majority of foreign trade freight forwarding and customs declaration enterprises need to pay special attention and be prepared.
Source: Yibang Power

2. China cuts tariffs on some Asia-Pacific trade agreement countries
On June 26, 2018, the General Administration of Customs announced the No. 65 of 2018 (Announcement on the Implementation of the Agreement on the Tax Rate of the Second Amendment to the Asia-Pacific Trade Agreement).
The Customs Tariff Commission of the State Council issued a notice on June 26th. From July 1st, China will cut the tariff rate on imported goods originating in Bangladesh, India, Laos, South Korea and Sri Lanka. The 164-page list includes more than 8,500 chemicals, agricultural products, medical supplies, clothing, steel and aluminum products, all of which have been subject to different levels of tariff cuts. Among them, the soybean import tariff rate was reduced from 3% to zero.
Source: People's Network

3. The United States has increased the review of customs clearance of FBA goods.
A news about the US clearance of FBA cargo clearance has caused the entire cross-border circle to "explode the pot." In the “fast-paced” cross-border e-commerce industry, the impact of goods entering the enterprise on the enterprise is fatal.
In early June, DHL issued an urgent notice stating that US government agencies have increased the review of customs clearance of FBA goods under the 321 Act (U.S. Customs Regulation 19CFR10.151.Sec 321).
The Act stipulates that all shipments that meet the following characteristics will no longer be eligible for the US 800USD/shipment tax exemption. (USD refers to US dollars)
The same sender sent n (n>1) tickets to the same Amazon US warehouse within 1 day.
The n-tickets will be treated as “split shipments” by the US government, and all will be converted to official customs clearance, regardless of whether the value of a single ticket is less than 800 USD.
According to US customs clearance regulations, the official Employer Identity Number (EIN) is required for official customs clearance, but US Amazon does not provide any customs clearance support for FBA shipments.
According to DHL, based on the above process, all FBA shipments to the United States will be rejected by the US government once they meet the above characteristics, and such shipments can only be returned to the origin.
Source: Yibang Power

4. The world's first blockchain cross-border remittance 3 seconds to account
On June 25th, the world's first blockchain-based e-wallet cross-border remittance service was launched in Hong Kong. Users of the Hong Kong version of Alipay AlipayHK can send money to the Philippine wallet Gcash through blockchain technology.
On the same day, the Philippine domestic helper Grace, who has worked in Hong Kong for 22 years, completed her first remittance at the press conference. She sent 10,000 pesos to a friend in Manila, and it took 3 seconds to arrive. 10 minutes to a few days.
Source: Sina