As of the end of March this year, the number of Authorized Economic Operators (AEO) certified by Shanghai Customs surpassed 540, marking a significant milestone in the city's trade landscape, confirmed the Shanghai Customs.

While these AEOs represent just one percent of all enterprises in Shanghai, their impact is substantial, contributing over one-third of the city's import and export value, according to Customs. Furthermore, they constitute nearly a quarter of the total industrial output value of major industries, around 60 percent of that of the integrated circuit manufacturing sector, and more than one-fifth of that of the biopharmaceutical manufacturing industry.

The AEO certification serves as a globally recognized quality endorsement, signifying that the Customs clearance processes within the entity's supply chain are efficient, compliant, and secure.

This certification not only streamlines Customs clearance procedures for imported and exported goods and territorial inspections but also reduces the frequency of inspections for such goods. Additionally, AEO-certified entities enjoy privileges such as designated enterprise coordinators, priority status for laboratory testing, and access to Customs reform and innovation initiatives.

According to Shanghai Customs, promoting the certification of AEOs is not only crucial for establishing Shanghai as an international trade hub but also serves as an effective means to enhance security and efficiency within the international supply chain.

By prioritizing AEO certification, Shanghai aims to bolster its position as a global trading center while simultaneously enhancing security measures and fostering smoother trade operations for businesses involved in international commerce.

Source: Xinhua